KUALA LUMPUR (Jan 23): The FBM KLCI pared some of its gains at mid-morning today as buyers turned cautious despite the uptrend at most regional markets.

At 10am, the FBM KLCI was up 0.55 points to 1,833.70. The index had earlier risen to a high of 1,836.15.

Gainers led losers by 388 to 206, while 355 counters traded unchanged. Volume was 1.18 billion shares valued at RM437.12 million.

The gainers included Nestle (M) Bhd, Malaysia Airports Holdings Bhd, Heineken Malaysia Bhd, Dutch Lady Milk Industries Bhd, British Anerican Tobacco (M) Bhd, ViTrox Corp Bhd, JHM Consolidation Bhd, Plenitude Tree Holdings Bhd and New Hoong Fatt Holdings Bhd.

The actives included Sumatec Resources Bhd, Tiger Synergy Bhd, Ucrest Bhd, Cuscapi Bhd, UMW Oil & Gas Corp Bhd, Hibiscus Petroleum Bhd, P.A. Resources Bhd and XOX Bhd.

The losers included NPC Resources Bhd, Boustead Heavy Industries Corp Bhd, Panasonic Manufacturing Malaysia Bhd, Public Bank Bhd, Amtek Holdings Bhd, SP Setia Bhd and Genting Malaysia Bhd.

Asian stocks advanced on Tuesday after U.S. senators struck a deal to end a three-day government shutdown, sending Wall Street's main indexes to record highs and keeping the dollar well supported, according to Reuters.

U.S. lawmakers passed a short-term measure on Monday to fund the federal government through Feb. 8, it said.

Hong Leong IB Research in a traders’ brief said that as the concern US government shutdown fizzles out, Dow’s uptrend could sustain, as investors refocus on the positive implications from the new US tax policy and IMF’s bullish outlook of a synchronized global economic expansion coupled with stellar corporate earnings growth.

“Primary uptrend to test 26,500-27,000 remains intact unless key 10d SMA support near 25,700 is violated.

“Given the firm Ringgit and crude oil prices, healthy macro developments and the resumption of foreign buying supports, sentiment on the local bourse could still stay positive, despite interim consolidations, as KLCI is expected to play catch-up against regional peers due to its laggard status,” it said.