KUALA LUMPUR (Nov 26): The FBM KLCI reversed its earlier loss and climbed 0.23% at mid-morning today, lifted by select blue chips.

At 10am, the FBM KLCI rose 3.72 points to 1,595.07. The index had earlier dipped to a low 1,589.05.

Gainers led losers by 257 to 248, while 289 counters traded unchanged. Volume was 658.31 million shares valued at RM336.85 million.

The gainers included Solarvest Holdings Bhd, Petronas Dagangan Bhd, Carlsberg Brewery Malaysia Bhd, Hong Leong Bank Bhd, Fraser & Neave Holdings Bhd, PPB Group Bhd, Ajinomoto (M) Bhd and Tenaga Nasional Bhd.

The actives included Solarvest, Bumi Armada Bhd, JAKS Resources Bhd, KNM Group Bhd and Green Packet Bhd.

The decliners included Chin Teck Plantations Bhd, Nestle (M) Bhd, Latitude Tree Holdings Bhd, Yinson Holdings Bhd, Allianz Malaysia Bhd, British American Tobacco (M) Bhd, KYM Holdings Bhd, Gamuda Bhd and Tong Herr Resources Bhd.

Asian stocks rose on Tuesday as an apparent olive branch from Beijing in trade talks with Washington added to other recent signs of progress, fuelling a rally in Wall Street's main benchmarks to record highs, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2%. Australian shares were up 0.59%, while Japan's Nikkei stock index rose 0.78%, it said.

Hong Leong IB Research said that in the US, market participants were mainly trading on the assumption of a phase one mini trade deal to be agreed by both the US and China.

"However, should this trade deal fall apart, we believe market may [succumb] to profit-taking activities. Also, the scheduled tariffs that may be imposed on Dec 15 could dampen the sentiment further.

"On the local front, we believe the positive sentiment in the US could translate to buying support in the local stocks.

"However, any of the negative surprises from the ongoing reporting season may cap the upside potential of the upward move on the KLCI. Nevertheless, traders may focus in plantation stocks amid the strong FCPO (crude palm oil futures) prices, which traded above RM2,700 at this juncture," it said.