KUALA LUMPUR (April 1): The FBM KLCI started April on a positive note, tracking gains at regional markets, lifted by select blue chips.

At 9.05am, the FBM KLCI added 3.04 points to 1,646.67.

The gainers included British American Tobacco (M) Bhd, Carlsberg Brewery Malaysia Bhd, Public Bank Bhd, QL Resources Bhd, Hartalega Holdings Bhd, GETS Global Bhd, Hartalega Holdings Bhd and Kossan Rubber Industries Bhd.

Asian stocks rose on Monday, as signs of progress in U.S.-China trade talks and firmer Wall Street shares supported sentiment, although another defeat for British Prime Minister Theresa May's proposed Brexit deal added to the pound's recent woes, according to Reuters.

The markets also took heart after data released on Sunday showed factory activity in China unexpectedly grew for the first time in four months in March, suggesting government stimulus measures may be starting to have an impact, it said.

Kenanga IB Research said Asian markets closed higher last Friday as reported progress in US-China trade talks raised investors’ hopes.

It said back home, the FBMKLCI gained 2.30 points or 0.14% to close at 1,643.63, widening week-on-week loss to 1.4%.

“Overall, the outlook of the index remains bearish as its 20-and-50 day SMAs crossed below its 100-day SMA.

“However, we do not discount the possibility of a short technical rebound, should RSI fall into the oversold territory.

“Should a technical rebound happen, we look towards 1,660 (R1) and 1,700 (R2) as resistance levels. Conversely, support levels can be identified at 1,630 (S1) and 1,615 (S2),” it said.