KUALA LUMPUR (Aug 13): The FBM KLCI followed regional markets and Wall Street higher in the morning trade Thursday and rose 0.85% at the midday break, while shares of Kossan Rubber Industries Bhd and Supermax Corp Bhd were given a boost on news that the duo was added as constituents for the MSCI Global Standard Indexes which will take place as of the close of Aug 31, 2020.

At 12.30pm, the FBM KLCI rose 13.36 points to 1,569.90.

Gainers led losers by 462 to 260, while 670 counters traded unchanged. Trading volume, however, eased to 7.24 billion shares valued at RM2.84 billion, after the recent record high daily volume of 22 billion shares.

Among the gainers, Supermax rose 64 sen to RM19.52 and Kossan added 12 sen to RM15.22.

Other gainers included Heineken Malaysia Bhd, Carlsberg Brewery Malaysia Bhd, Hartalega Holdings Bhd, Kuala Lumpur Kepong Bhd, Ajinomoto (M) Bhd, KESM Industries Bhd, Top Glove Corp Bhd and LPI Capital Bhd.

The actively traded stocks included Pegasus Heights Bhd, Priceworth International Bhd, Luster Industries Bhd, Sapura Energy Bhd, NetX Holdings Bhd. XOX Bhd, Lambo Group Bhd and Hubline Bhd.

The decliners included Genting Plantations Bhd, Mercury Industries Bhd, Euro Holdings Bhd, IJM Corp Bhd, Poh Kong Holdings Bhd, Tomei Consolidated Bhd, Malaysian Pacific Industries Bhd and Duopharma Biotech Bhd.

Reuters said Asia's stock markets followed Wall Street higher on Thursday, as investors returned to tech stocks, gold and selling US dollars after steady virus figures and a surprising jump in US inflation boosted sentiment.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2%, and gains in semiconductor makers drove Japan's Nikkei 1.9% higher to a six-month peak, it said.

JF Apex Securities Research said US markets surged overnight following gains in technology, consumer and healthcare counters due to optimism on reopening of the economy.

It said that earlier, European stocks ended higher amid UK's GDP falling 20% and hopes of a coronavirus vaccine.

“On the local market, the FBM KLCI lost 8.10 points to 1,556.64 points.

“Following the positive performances in the US and Europe, the FBM KLCI could stage a rebound off its support of 1,550 points,” it said.