KUALA LUMPUR (Dec 2): The FBM KLCI rose 0.4% at the midday break today, tracking the positive vibes at most regional markets.

At 12.30pm, the FBM KLCI was up 6.24 points at 1,567.98.

Gainers led losers by 325 to 245, while 478 counters traded unchanged. Volume was 1.16 billion shares valued at RM577.57 million.

The gainers included Nestle (M) Bhd, Petronas Dagangan Bhd, Kuala Lumpur Kepong Bhd, Master-Pack Group Bhd, Ajinomoto (M) Bhd and QL Resources Bhd.

The actives included Solarvest Holdings Bhd, MNC Wireless Bhd, Sapura Energy Bhd, Alam Maritim Resources Bhd, Sanichi Technology Bhd, Bina Puri Holdings Bhd and XOX Bhd.

The losers included Dutch Lady Milk Industries Bhd, Pintaras Jaya Bhd, Hengyuan Refining Co Bhd, Mulpha International Bhd, Choo Bee Metal Industries Bhd, KESM Industries Bhd, Asia File Corp Bhd and Amway (M) Holdings Bhd.

Most Southeast Asian stock markets started the week on the front foot, as upbeat manufacturing surveys from China — the region's biggest trading partner — eased fears of an economic slowdown in the world's second-largest economy, boosting investor sentiment, according to Reuters.

Data on Saturday showed that factory activity in China returned to growth for the first time in seven months, as accelerated stimulus measures from the government helped push up domestic demand, it said.

Affin Hwang Capital Research said the FBM KLCI posted sharp losses on Friday, down 22.03 points or 1.4%, closing at 1,561.74.

It said bearish outlook remains for the index in the near term, supported by several factors: the 20-day exponential moving average (EMA20d) (shorter-period) has now crossed below the EMA50d (longer-period), suggesting a short-term bearish bias; moving average convergence divergence (MACD) is trading below the zero level; and relative strength index (RSI) & Stochastic continue to point lower, hovering in bearish territories.

"Next support level expected to be the 1,550 level and if this level is broken, the index is likely to test 1,500 soon.

"Short-term consolidation in progress," it said.