KUALA LUMPUR (Dec 12): The FBM KLCI rose 0.53% at mid-morning today, in line with regional markets, lifted by gains including at Petronas-linked stocks.

At 10am, the FBM KLCI rose 8.27 points to 1,571.46.

Gainers led losers by 306 to 213, while 302 counters traded unchanged. Volume was 736.35 million shares valued at RM366.36 million.

The gainers included Petronas Gas Bhd, Petronas Dagangan Bhd, Dutch Lady Milk Industries Bhd, MISC Bhd, PPB Group Bhd, Hong Leong Bank Bhd, BIMB Holdings Bhd and Public Bank Bhd.

The actives included Eco World Development Group Bhd, Sapura Energy Bhd, Ekovest Bhd, Dynaciate Group Bhd and Iskandar Waterfront City Bhd.

The decliners include Nestle (M) Bhd, Malaysia Airports Holdings Bhd, UEM Edgenta Bhd, Hong Leong Financial Group Bhd, Negri Sembilan Oil Palms Bhd and Lingkaran Trans Kota Holdings Bhd.

Reuters reported Asian stocks edged higher on Thursday after the Federal Reserve (Fed) signalled rate settings were likely to remain accommodative but the imminent UK election and a deadline for Sino-US trade talks kept investors cautious.

Capping broader gains was a fall in oil prices after data showed an unexpected increase in US crude inventories, which hit some energy stocks in the region, it said.

Hong Leong IB Research said despite the relief rebound on Wall Street as the Fed kept the interest rate unchanged and indicated the interest rate should remain stable for 2020, traders may still trade on a cautious tone ahead of the planned tariffs of 15% on US$156 billion Chinese goods this Dec 15.

"Hence, we remain cautious and expect the trading tone to be sideways on Wall Street. The Dow's trading range could be envisaged around 27,400-28,200.

"With the mildly positive tone on Wall Street, we expect spillover of buying support may lift the broader market over the near term, supporting KLCI above 1,548.

"At the same time, traders may trade within property stocks as volumes and prices have picked up substantially yesterday and we believe the trading interest is likely to sustain until next week," it said.