KUALA LUMPUR: A broad-based rally lifted Bursa Malaysia in morning trade as equities prices were spurred on by a strong rebound in global technology valuations.
The improved sentiment swept the FBM KLCI 8.33 points or nearly half a percent higher to 1,728.73 at midday, while the broader market also turned positive with 609 advancing counters against 349 declining.
Trading volume was 1.6 billion shares changing hands for RM1.36bil.
The tech sector jumped 4.67% on the back of a semiconductor rally as Mirosoft's outsized earnings allayed fears that AI expenditure costs had grown out of hand.
Among some of the notable gainers, Vitrox soared 79 sen to RM8.79, UWC jumped 23 sen to RM6.39, Pentamaster rallied 35 sen to RM5.35, and Frontken climbed 17 sen to RM5.13
Energy shares were also on the rise amid the ongoing Gulf crisis and Brent oil prices sitting around the US US$88 level. Consumer goods companies rose 0.56% and financial services added 0.33%.
Meanwhile, most active shares on the market were Zetrix AI up two sen to 73.5 sen, Nationgate jumping eight sen to RM1.21 and VS Industry rising 1.5 sen to 23.5 sen.
South Korea's Kospi stood out in regional markets for a record 15% rally to 6,421 as semiconductor giants Samsung Electronics and SK Hynix tacked on big gains from the rebound in AI-driven shares.
Samsung surged 21% while SK Hynix exploded 27% higher as they recovered from previous losses as fears over an AI bubble melted away.
Japan's Nikkei, meanwhile, was up 4% to 64,340, while the Shanghai Composite index gained 0.76% to 3,833.
Hong Kong's Hang Seng dipped 0.11% to 25,830.
