KUALA LUMPUR: Blue chips were higher in the morning session today, underpinned by follow-through buying of banking stocks which signalled equities still could run up further and also in tandem with strong regional markets.
At 12.30pm, the FBM KLCI had risen 7.13 points to 1,264.8. Turnover was 262.08 million shares valued at RM358.71 million. There were 360 gainers, 163 losers and 232 stocks unchanged.
Key regional markets rose as US interest rate concerns eased. Japan's Nikkei 225 jumped 2.55% to 10,381.75 while Hong Kong's Hang Seng Index advanced 2.61% to 20,431.01 and Singapore's Straits Times Index added 0.42% to 2,768.81. Shanghai's Composite Index shed 0.08% to 3,015.70.
Commodities rallied, with light crude oil breaking past the US$80 level when it climbed 44 US cents to US$80.25, US spot gold added US$5.75 to US$1,124.95 and crude palm oil futures added RM30 to RM2,626.
At Bursa Malaysia, Public Bank added 10 sen to RM11.20 and Maybank six sen to RM6.95 while AMMB added four sen to RM4.99 and CIMB two sen to RM12.58.
Tanjong rose 24 sen to RM17.90, Axiata five sen to RM3.47 and Genting Malaysia five sen to RM2.72 and Genting one sen to RM6.37. Among PLANTATION []s, PPB Group gained 28 sen to RM16.58 and IOI Corp three sen to RM5.34.
TSM was the top gainer, adding 29 sen to RM2.79 and Supermax 24 sen to RM5.71 after announcing a set of strong 4Q earnings.
MAS-OR rose 2.5 sen to nine sen and it was the most active with 33.12 million units done.
Keck Seng was the top loser, down 29 sen to RM4 with 11,400 shares done, BAR lost 10 sen to RM41.54 and Parkson 10 sen to RM5.37.