KUALA LUMPUR (April 20): The FBM KLCI rose at the midday break today, in line with the gains at most regional markets.

At 12.30pm, the FBM KLCI added 2.34 points to 1,741.29. The index had earlier fallen to its intra-morning low of 1,736.40.

Gainers edged out losers by 363 to 345, while 397 counters traded unchanged. Volume was 1.32 billion shares valued at RM825.20 million.

The top gainers included British American Tobacco (M) Bhd, ViTrox Corp Bhd, SCC Holdings Bhd, Scientex Bhd, Hong Leong Financial Group Bhd, Cycle & Carriage Bintang Bhd, Seacera Group Bhd, Heineken Malaysia Bhd, LTKM Bhd and AMMB Holdings Bhd.

The actives included Key Alliance Group Bhd, Anzo Holdings Bhd, Borneo Oil Bhd, Priceworth International Bhd, Malayan United Industries Bhd, Inix Technologies Holdings Bhd, Johan Holdings Bhd, Trive Property Group Bhd and XOX Bhd.

The losers included Petronas Gas Bhd, Malaysian Pacific Industries Bhd, Asia File Corp Bhd, Chin Teck Plantations Bhd, IQ Group Holdings Bhd, SAM Engineering & Equipment Bhd and Yen Global Bhd.

Asian stocks erased early losses and edged higher on Thursday as signs of resilience emerged in some markets, while steadying commodity prices — especially for oil — prompted some bargain hunting among investors, according to Reuters.

But with the outcome of the French presidential elections due at the weekend, markets are set to trade in well-worn trading ranges, barring any major data surprises in Asia, it said.

Kenanga IB Research said the FBM KLCI ended the day lower yesterday, tracking the weaker performance in key Asian markets.

It said at market close, the local benchmark was down 1.65 points (0.09%) at 1,738.95.

The research house said sentiment on the broader market was weak, with 661 decliners outnumbering 258 gainers and 347 counters traded unchanged.

"From a charting perspective, the FBM KLCI's primary trend is positive with the key SMAs in a Golden Crossover. Nevertheless, the shorter-term trend reflects a healthy consolidation mode over the past month.

"Although some bargain hunting emerged, the key momentum indicators have yet to show any meaningful improvement in the near term.

"Hence, investors should wait for a move above 1,743 (R1) which will signal a more decisive resumption of its short- and medium-term uptrend. Next up, resistance can also be found at 1,760 (R2) while downside support levels are 1,727 (S1) and 1,713 (S2)," it said.