KUALA LUMPUR: The FBM KLCI picked up over the morning trading session as global markets reacted positively to reports Iran could be resuming peace talks with the US.
Malaysia's benchmark index rose nearly 10 points to 1,712.98, grazing the 50-day simple moving average as the market looked set to chalk up a fourth straight day of gains.
The broader market was also positive, with 593 advancing issues compared to 451 declining, reflecting an uptick in risk appetite for equities.
Volume was 1.96 billion shares valued at RM1.56bil.
By sector, financial services rose 1.15% while utilities jumped 2%. Technology counters climbed 1.8% and property advanced 0.3%.
Heavyweight banks led the rally, including Hong Leong Bank gaining 26 sen to RM22.66, CIMB jumping 22 sen to RM7.81, RHB adding 10 sen to RM8.28 and Public Bank increasing seven sen to RM4.76.
Tenaga Nasional rallied 22 sen to RM14.62, YTL Power rose 12 sen to RM3.78 and YTL Corp added six sen to RM2.
Of active stocks, VS Industry gained two sen to 21 sen, Zetrix AI was flat at 85.5 sen and MTT Shipping and Logistics was unchanged at RM1.
Meanwwhile, Asian markets were on a rally, sparked by renewed negotiations in the Middle East as well as AI-drive tech earnings.
South Korea's Kospi hit a record high after surging 2.33% to 6,364. Japan's Nikkei gained 1.21% to 59,539.
In China, the Shanghai Composite index slipped 0.17% to 4,074 and the CSI 300 dipped 0.17% to 4,749. Hong Kong's Hang Seng rose 0.28% to 26,434.
