KUALA LUMPUR (Aug 14): The FBM KLCI rose 0.49% at the midday break today and managed to hold on to its 1,600-point level in line with the surge at most global markets.

At 12.30pm, the FBM KLCI added 7.73 points to 1,600.61. The index had earlier risen to a high of 1,602.07.

Gainers led losers by 350 to 165, while 467 counters traded unchanged. Volume was 1.3 billion shares valued at RM640 million.

The gainers included Carlsberg Brewery Malaysia Bhd, British American Tobacco (M) Bhd, Teck Guan Perdana Bhd, Panasonic Manufacturing Malaysia Bhd, Kuala Lumpur Kepong Bhd, Datasonic Group Bhd, Serba Dinamik Holdings Bhd, Westports Holdings Bhd and Petronas Chemicals Group Bhd.

The actives included Green Packet Bhd, Sumatec Resources Bhd, Datasonic, Vsolar Group Bhd, Berjaya Land Bhd and KNM Group Bhd.

The losers included Petronas Dagangan Bhd, Heineken Malaysia Bhd, Nestle (M) Bhd, Complete Logistics Services Bhd, Yinson Holdings Bhd, Aeon Credit Service Bhd, Keck Seng (M) Bhd and Kim Hin Industry Bhd.

Asian stocks joined a global equities surge on Wednesday, after Washington delayed tariffs on some Chinese imports and gave much-needed relief for markets gripped by political and economic turmoil, according to Reuters.

The tariff news largely offset a raft of disappointing China data for July. The yen rose on the news about weak China industrial production and other data, it said.

Affin Hwang Capital Research said the FBM KLCI Index posted heavy losses in yesterday's session, dropping 22.17 points or 1.37%, closing at 1,592.88.

The research house said the index has now dropped below the 1,600 psychological level and is currently retesting support around the 1,590 level.

"Nonetheless, the index is anticipated to stage a technical rebound in tandem with the US market following Trump's decision to delay tariffs on Chinese goods. Any rebound is perceived as an opportunity for investors to sell on strength as markets' underlying trend is firmly bearish.

"Downward movement remains intact," it said.