KUALA LUMPUR (Jan 2): The FBM KLCI rose 0.45% at the midday break today as Malaysia's Purchasing Managers' Index increased to a 15-month high of 50.0 in December, from 49.5 in November, while crude palm oil (CPO) remained firmly above the RM3,000 mark.

At 12.30pm, the FBM KLCI rose 7.07 points to 1,595.83.

Gainers led losers by 392 to 223, while 497 counters traded unchanged. Volume was 1.78 billion shares valued at RM851.91 million.

The gainers included Kuala Lumpur Kepong Bhd, Carlsberg Brewery Malaysia Bhd, Petronas Gas Bhd, Allianz Malaysia Bhd, Heineken Malaysia Bhd, Public Bank Bhd, Lingkaran Trans Kota Holdings Bhd, Greatech Technology Bhd and Revenue Group Bhd.

The actives included Vivocom International Holdings Bhd, Bumi Armada Bhd, TDM Bhd, Sapura Energy Bhd, Bright Packaging Industry Bhd, Avillion Bhd, Kronologi Asia Bhd and FoundPac Group Bhd.

The losers included Nestle (M) Bhd, G3 Global Bhd, Hong Leong Financial Group Bhd, Hartalega Holdings Bhd, New Hoong Fatt Holdings Bhd, UEM Edgenta Bhd, S P Setia Bhd and Sarawak Oil Palms Bhd.

Reuters said Asian shares kicked off the new decade higher on Thursday, after global stocks ended the previous one at record highs, and buoyed by Chinese markets after Beijing eased monetary policy to support slowing growth.

Investors also cheered news that the United States and China will sign a trade pact soon after a year of volatile negotiations between the world's two largest economies, it said.

Affin Hwang Capital Research said the FBM KLCI fell 26.91 points, or 1.7%, to close at 1,588.76 on Tuesday.

The research house said price seems to be facing stern rejection from the 1,615 immediate resistance, indicating presence of selling pressure.

"Nonetheless, short-term trend remains upwards and indicators, namely RSI & Stochastic, are still upbeat as they continue to hover in bullish territories.

"Hence, we may see the index trade sideways with upward bias in the near term.

"Anticipate index to trade sideways with upward bias," it said.