KUALA LUMPUR (Feb 6): The FBM KLCI pared some of its gains at mid-morning today as the local market turned tentative, awaiting more direction from the wave of corporate earnings expected this month.

At 10.06am, the FBM KLCI was up 1.05 points to 1,686.06. The index had earlier risen to a high of 1,688.92.

The top gainers included Batu Kawan Bhd, Malaysia Airports Holdings Bhd, Scomi Engineering Bhd, Axiata Group Bhd, United U-Li Corp Bhd, Zhulian Corp Bhd, Enra Group Bhd, DRB-Hicom Bhd, UMW Holdings Bhd and KLCC Property Holdings Bhd.

The actives included Sumatec Resources Bhd, Hibiscus Petroleum Bhd, Sterling Progress Bhd, IFCA MSC Bhd, Borneo Oil Bhd, Scomi Group Bhd and DRB-Hicom.

The top losers included British American Tobacco (M) Bhd, Fraser & Neave Holdings Bhd, Hong Leong Bank Bhd, Bursa Malaysia Bhd, Dutch Lady Milk Industries Bhd, Hartalega Holdings Bhd, KPJ Healthcare Bhd and Atlan Holdings Bhd.

Asian shares edged ahead on Monday as Wall Street gathered momentum into a busy week of earnings with more than 100 major companies due to report, while the US dollar was again hobbled by a lack of progress on US fiscal stimulus, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.3%, with Australia ahead by 0.5%, it said.

Hong Leong IB Research said with last Friday's Dow rally, firmer recovery in oil prices and ringgit coupled positive technical breakout, the FBM KLCI could retest the much-awaited 1,700 psychological barrier.

"However, further strong rebound above 1,700 may be capped by the ongoing February reporting season," it said.