KUALA LUMPUR (Dec 27): The FBM KLCI reversed its earlier loss and clawed back above the 1,600-point level at the midday break today, in line with the uptrend at most regional markets.

At 12.30pm, the FBM KLCI gained 1.64 points to 1,605.19. The index had earlier fallen to a low of 1,598.48.

Gainers led losers by 288 to 251, while 510 counters traded unchanged. Volume was 1.26 billion shares valued at RM667.89 million.

The gainers included Dutch Lady Milk Industries Bhd, Carlsberg Brewery Malaysia Bhd, Fraser & Neave Holdings Bhd, Heineken Malaysia Bhd, Sarawak Oil Palms Bhd, Hengyuan Refining Co Bhd, Ta Ann Holdings Bhd, Batu Kawan Bhd and Negri Sembilan Oil Palms Bhd.

The actives included Sapura Energy Bhd, TDM Bhd, Bumi Armada Bhd, FoundPac Group Bhd, Rimbunan Sawit Bhd, Alam Maritim Resources Bhd and Tiger Synergy Bhd.

The decliners included Nestle (M) Bhd, Aeon Credit Service (M) Bhd, Tenaga Nasional Bhd, Petronas Gas Bhd, Hong Leong Industries Bhd, JcbNext Bhd and Harn Len Corp Bhd.

Reuters said most Southeast Asian stock markets rose on Friday, with Philippine shares leading the pack, as investor sentiment was boosted by hopes that China and the United States would sign a Phase 1 trade deal early next year.

China's Commerce Ministry said on Thursday Beijing was in close contact with the United States about the initial agreement, after US President Donald Trump on Tuesday talked up a signing ceremony for the recently struck deal, it said.

Affin Hwang Capital Research said the FBM KLCI was down 0.68 points or 0.04%, to close at 1,603.55 on Thursday.

It said volatility was low in yesterday's session.

"A 'doji' (candlestick pattern) was formed, indicating indecision between buyers and sellers yesterday.

"In addition, as selected key indicators on the daily chart are showing early signs of a downward reversal, we may see the index turn lower from current levels.

"However, if the index continue[s] to push higher, breaking above the 1,615 resistance level with conviction, then this may signify the continuation of the upward movement.

"Major downtrend remains. 'Window dressing' play likely to unfold in the near term," it said.