KUALA LUMPUR (Nov 4): Gains at the FBM KLCI were relatively measured with the index remaining below the 1,600-point level at the midday break as Malaysia's September exports fell the most in three years.

Malaysia's exports registered a 6.8% year-on-year (y-o-y) decrease to RM77.7 billion in September 2019, while imports increased by 2.4%.

Total trade, which was valued at RM147.1 billion, decreased RM4 billion or 2.7% as compared to September 2018.

At 12.30pm, the FBM KLCI gained 4.78 points to 1,598.12. The index had earlier risen to a high of 1,600.65.

Gainers led losers by 276 to 250, while 536 counters traded unchanged. Volume was 1.44 billion shares valued at RM865.87 million.

The gainers included Nestle (M) Bhd, Petronas Dagangan Bhd, Hartalega Holdings Bhd, Apollo Food Holdings Bhd, Carlsberg Brewery Malaysia Bhd, ViTrox Corp Bhd, KESM Industries Bhd, Time Dotcom Bhd, Malaysian Pacific Industries Bhd and Top Glove Corp Bhd.

The actives included Sapura Energy Bhd, Sumatec Resources Bhd, Prestariang Bhd, Bumi Armada Bhd, Uzma Bhd, Velesto Energy Bhd and DGB Asia Bhd.

The decliners included Hong Leong Bank Bhd, Aeon Credit Service (M) Bhd, British American Tobacco (M) Bhd, United Plantations Bhd, Fraser & Neave Holdings Bhd, Country Heights Holdings Bhd, Oriental Holdings Bhd, Muhibbah Engineering (M) Bhd and G3 Global Bhd.

Asian shares surged to more than 14-week highs on Monday as growing optimism over US-China trade talks and upbeat US job data boosted global investors' appetite for riskier assets, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan jumped 1%, touching its highest level since July 25, it said.

Kenanga IB Research said Asian stocks were mixed as investors were concerned over the potential for a long-term trade deal between China and US.

It said back home last Friday, the FBM KLCI fell 4.64 points (-0.29%) to close at 1,593.34.

"Chart-wise, the underlying trend remains bearish as the index is trading below its 100-day SMAs (simple moving averages) and coupled with the overbought signal from stochastic, we believe the index could continue its downward movement.

"Support levels can be identified at 1,550 (S1) and 1,510 (S2), while overhead resistance levels can be found at 1,630 (R1) and 1,650 (R2)," it said.