KUALA LUMPUR (April 14): The regional rally failed to inspire the local market in the morning session today as investor sentiment stayed mixed.

At 12.30pm, the FBM KLCI dipped 0.22 points to 1,722.89. The index had earlier climbed to its intra-morning high of 1,729.13.

Sentiment was mixed with 350 losers and 335 gainers, while 344 counters traded unchanged. Volume was 901.23 million shares valued at RM765.51 million.

The top losers included PIE Industrial Bhd, Cahya Mata Sarawak Bhd, SAM Engineering & Equipment Bhd, Analabs Resources Bhd, Latitude Tree Holdings Bhd, Can-One Bhd and UMW Holdings Bhd.

The actively traded stocks included Sumatec Resources Bhd, AirAsia X Bhd, Vivocom Intl Holdings Bhd, EKA Noodles Bhd, AirAsia Bhd and JAG Bhd.

The gainers included Allianz (M) Bhd, Malaysia Airports Holdings Bhd, Metrod Holdings Bhd, Power Root Bhd, Petronas Gas Bhd, Guinness Anchor Bhd and Carlsberg Brewery (M) Holdings Bhd.

Asian stocks rose to their highest levels in more than four months on Thursday and regional currencies weakened led by the Singapore dollar as hopes grew that more central banks will join the city state in easing monetary policy in the coming months, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3%, reaching its highest level since Dec 2. The index has risen 4.7% since Friday, breaking above several resistance levels to signal further gains, it said.

BIMB Securities Research said that in Asia, stocks ended higher with strong gains in Japan, Hong Kong and China following a rally in energy shares and on positive export data out of China.

It said that locally, the FBM KLCI gained 8.11 points or 0.47% to 1,723.11, lifted mainly by energy and banking stocks.

"Trading participation saw net buying by foreign institutions and local retail while local institutions were net sellers.

"We expect the local market to remain positive today following overnight gains in US and Europe with immediate resistance at 1,730/1,740,"it said.