KUALA LUMPUR: Most chip makers and tech-related stocks staged a rebound early Wednesday, as investor sentiment was boosted by the overnight rally of Nasdaq.
At 9.15am, the FBM KLCI was up 10.36 points or 0.64% to 1,635.14. Turnover was 832.30 million shares valued at RM535.08mil. Advancers beat decliners 485 to 178 while 346 counters unchanged.
Overnight on Wall Street, US stocks rallied, with the Nasdaq gaining about 4% to recoup heavy losses from the previous session as US bond yields retreated and investors scooped up battered technology stocks.
The Dow Jones Industrial Average rose 30.3 points, or 0.10%, to 31,832.74, the S&P 500 gained 54.09 points, or 1.42%, to 3,875.44 and the Nasdaq Composite added 464.66 points, or 3.69%, to 13,073.83.
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