KUALA LUMPUR: Tracking the overnight rally on Wall Street, Bursa Malaysia ended on positive side at midday, with the FBM KLCI advancing a 8.09 points to 1,635.53.
Dealers said sentiment was buoyed by upbeat results on Wall Street with S&P 500 and Nasdaq ralled to record closing highs after strong earnings from broad range of companies.
Overnight, the S&P 500 ended just below its intraday record of 2,940.91 while the Nasdaq closed up 1.3% at 8,120.82. The Dow Jones Industrial Average gained 145.34 points to close at 26,656.39.
Similarly, European stocks advanced following higher oil prices and optimism on quarterly results.
In its market update this morning, PublicInvest Research said the FBM KLCI might open with a positive bias today US stocks reached a record high on Tuesday as investors, reassured by recent dovish signals from central banks, extended a months-long recovery in spite of continued uncertainty over the outlook for the global economy.
At midday, the benchmark FBM KLCI rose 8.09 points to 1,635.53. Turnover stood at 2.14 billion shares worth RM1.24bil.
Market breadth was positive with gainers outpacing losers 485 to 304, with 390 counters unchanged.
On Bursa Malaysia, Tasek was the top gainer, up 43 sen to RM6.38, Takaful rose 24 sen to RM5.53 while Press Metal
-WC added 22 sen to RM4.26.
The top losers included Carlsberg, which fell 62 sen to RM24.88 while British American Tobacco declined 22 sen to RM36.30.
Among key heavyweights, Maybank, Public Bank and Tenaga Nasional added four sen each to RM9.20, RM22.64 and RM12.32 respectively.
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