At 12.30pm, the KLCI was up 14.36 points or 0.87% to 1,661.95. Turnover was 1.19 billion shares valued at RM943.51mil. There were 470 gainers, 264 losers and 304 counters unchanged.
The ringgit firmed up against the US dollar, pound sterling and Singapore dollar, underpinned by the firmer commodity prices.
The ringgit was 4.3577 against the US dollar from the previous close of 4.3690; it was quoted at 6.6072 to the pound from 6.6376 and it was at 3.0621 to the Singapore dollar from the 3.0621.
The recent selloff in emerging-market assets, including Mexico and Malaysia's currencies, has opened up investment opportunities not seen for decades, according to Franklin Templeton's Michael Hasenstab, who's well known for making contrarian bets, according to Bloomberg.
Key Asian markets also climbed, with Japan taking the lead supported by expectations the US Federal Reserve will wait longer to raise interest rates.
At Bursa Malaysia, AmBank and CIMB rose 11 sen each to RM4.70 and RM4.60 while Maybank and Hong Leong Bank gained two sen each to RM8.62 and RM13.44, RHB Capital added three sen to RM5.95 while Public Bank gave up the early gains to end unchanged at RM18.18.
US light crude oil rose eight cents to US$46.34 and Brent 17 cents higher at US$49.42. Petronas Gas rallied 56 sen to RM22.96, Petronas Dagangan 12 sen to RM22.30 and Petronas Chemicals six sen to RM6.17. SK Petro gained three sen to RM1.91.
Crude palm oil for third-month delivery fell RM15 to RM2,400 on profit taking. Heavyweight plantation-property Sime Darby advanced 13 sen to RM8.25, PPB Group 10 sen to RM15.48, IOI Corp eight sen to RM4.25 while KL Kepong two sen to RM22.66.
Other gainers were Batu Kawan, up 36 sen to RM17.50, TAHPS and Far East 20 sen each to RM7 and RM7.40.
Genting rose 19 sen to RM7.44, Tenaga two sen to RM12.12 and UMW four sen to RM7.61. MISC was up 25 sen to RM9.
Among the key regional markets,
Japan’s Nikkei 225 rose 1.32% to 18,243.25;
Hong Kong’s Hang Seng Index inched up 0.02% to 21,859.09;
Taiwan’s Taiex rose 0.55% to 8,397.95;
South Korea’s Kospi advanced 0.65% to 1,991.09 and
Singapore’s Straits Times Index jumpd 1.16% to 2,884.36.
Spot gold rose 71 cents to US$1,136.46.
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