KUALA LUMPUR (Jan 7): The FBM KLCI added 0.91% at the midday break, tracking the rebound at most regional markets and lifted by index-linked banking stocks.

At 12.30pm, the FBM KLCI rose 14.59 points to 1,612.35.

Gainers led losers by 341 to 218, while 546 counters traded unchanged. Volume was 1.75 billion shares valued at RM836.67 million.

The gainers included Nestle (M) Bhd, PPB Group Bhd, Public Bank Bhd, Maxis Bhd, RHB Bank Bhd, Hartalega Holdings Bhd, Axiata Group Bhd and Hong Leong Bank Bhd.

The actives included Alam Maritim Resources Bhd, Vortex Consolidated Bhd, Rimbunan Sawit Bhd, Priceworth International Bhd, TDM Bhd, Dataprep Holdings Bhd and Lambo Group Bhd.

The decliners included Allianz Malaysia Bhd, Hong Leong Financial Group Bhd, Malaysia Airports Holdings Bhd, Malayan Cement Bhd, Far East Holdings Bhd, Fraser & Neave Holdings Bhd, Time dotCom Bhd, Apollo Food Holdings Bhd, Ideal United Bintang International Holdings Bhd and APM Automotive Holdings Bhd.

Asian shares rebounded on Tuesday as a day passed without any new escalation in the Middle East and Wall Street erased early losses to end in the black as tech stocks climbed, according to Reuters.

Oil surrendered hefty gains as some speculated Iran would be unlikely to strike against the United States in a way that would disrupt supplies, and its own crude exports, it said.

Affin Hwang Capital Research said the FBM KLCI fell 13.62 points, or 0.8%, to close at 1,597.76 on Monday.

"Looking at technical indicators: 1) MACD is now converging downward towards the Signal line, indicating retracement is in play, 2) RSI & Stochastic are turning lower from overbought territories, pointing towards fading bullish momentum.

"This tells us that the index may possibly stage a bearish reversal from current levels. Not only that, the heightened geopolitical concern between US and Iran may dampened sentiments, spooking investors which may have an adverse effect on our local market as well.

"Anticipate index to trade sideways with downward bias," it said.