At 9.05am, the FBM KLCI was up 6.25 points to 1,579.58.
The early gainers included Malaysian Pacific Industries Bhd, Petronas Dagangan Bhd, Telekom Malaysia Bhd, Carlsberg Brewery Malaysia Bhd. Press Metal Aluiminium Holdings Bhd, Knusford Bhd, Hengyuan Refining Company Bhd and Opcom Holdings Bhd.
Bloomberg said the global equity rally took a breather in Asia Tuesday as investors mulled stimulus prospects and the impact of rising inflation expectations with stocks at record highs.
Oil extended gains, it said.
Rakuten Trade said Wall Street closed on fresh record highs as traders are optimistic of another stimulus relief package soon.
It said the Dow Jones Industrial Average gained 238 points to almost the 31,400 mark whilst both the S&P 500 and Nasdaq climbed 0.7% and 1.0% respectively.
KUALA LUMPUR (Feb 9): The FBM KLCI rose today in line with most regional benchmark indices, following the overnight rally on Wall Street that took the US market to a new record high.
The KLCI closed 12.80 points or 0.81% higher at 1,586.13, shored up by counters such as Press Metal Aluminium Holdings Bhd, MISC Bhd and Genting Malaysia Bhd.
JF Apex Securities said in a note to clients that US markets rallied overnight to extend their winning streak and record highs, following a strong earnings season, progress in vaccination and stimulus talks.
“Similarly, European stocks advanced amid corporate earnings and developments in coronavirus vaccination,” the research house noted.
KUALA LUMPUR (Jan 19): The main index at Bursa Malaysia pared some of its gains at the midday break Tuesday as broader market sentiment appeared lukewarm to the government’s RM15 billion Perlindungan Ekonomi dan Rakyat Malaysia (Permai) assistance package.
At 12.30pm, the FBM KLCI was up 2.78 points to 1,612.30. The index had earlier climbed to a high of 1,618.41.
Declining issuers led advancers by 370 to 365, while 728 counters traded unchanged. Trading volume was 4.16 billion shares valued at RM2.50 billion.
The gainers included Nestle (M) Bhd, Toyo Ventures Holdings Bhd, Milux Corp Bhd, PMB Technology Bhd, Khind Bhd, Samaiden Group Bhd and Carlsberg Brewery Malaysia Bhd.
At 9.05am, the FBM KLCI rose 5.42 points to 1,642.11.
The early gainers included Malaysian Pacific Industries Bhd, Public Bank, Kuala Lumpur Kepong Bhd, UWC Bhd, Asia File Corp Bhd, Hong Leong Bank Bhd, ViTrox Corp Bhd, Toyo Ventures Holdings Bhd and Carlsberg Brewery Malaysia Bhd.
Bloomberg said Treasury yields retained their recent declines amid optimism the American economy will continue to benefit from government support.
Asian shares opened with small losses, it said.
Rakuten Trade said Wall Street were mixed amid recent record run as traders remain sidelined.
It said the Dow Jones Industrial Average closed flat at 30,060 with the tech heavy Nasdaq closed 56 points higher at almost the 13,130 mark.