KUALA LUMPUR: The FBM KLCI extended its gains Wednesday, March 3 after advancing for two consecutive days, in line with gains across Asian markets as regional equity indices advance follow marginal gains across US markets a night earlier.

Analyts said FBM KLCI was still well underway to retest the 1,300 level, as the current upswing momentum remained steady.

"The risk to the short-term outlook is a sudden drop in the trading interest, ie a plunge of the daily trading volume to below 600 million shares, and negative development in the regional markets," RHB Research Institute wrote in a note to clients today.

At 9.31am, the FBM KLCI added 3.95 points to 1,292.02. Across the the bourse, a total of 123.17 million shares valued at RM90.35 million changed hands, resulting in 141 rising stocks versus 110 declining entities.

Top gainer Hai-O Enterprise Bhd rose 20 sen to RM10.70 while the biggest decliner Petronas Gas Bhd dipped 8 sen to RM9.71.

Among the most actively traded stocks, JAKS Resources Bhd climbed 2.5 sen to 81.5 sen while ETI Tech Corp Bhd fell 1 sen to 42 sen.

Across Asia, Japan's Nikkei 225 added 0.06% to 10,228.11, South Korea's Kospi rose 0.28% to 1,619.60, while Australia's S&P/ASX 200 was up 0.77% to 4,737.90.

Meanwhile, the ringgit continues to strengthen against the US dollar, possibly, due to market anticipation that Bank Negara Malaysia may raise interest rates Thursday. The ringgit was traded at its firmest point in a month at 3.3745 versus the greenback today.

A Reuters poll last week showed nine out of 12 economists expecting a 25 basis point rate hike by May this year with four saying it would come Thursday.

In the US, the Dow Jones Industrial Average closed 0.02% higher at 10,405.98 in overnight trade, Nasdaq added 0.32% to 2,280.79 while S&P 500 was up 0.23% to 1,118.31.