KUALA LUMPUR: The FBM KLCI paced higher in the early session, underpinned by a growing risk appetite for equities ahead of what is widely expected to be a US rate cut in September.
The domestic market was in line with Asian markets, which were mostly firm on Monday despite disappointing China economic growth figures and increased volatility following an attack on US presidential candidate Donald Trump over the weekend.
Meanwhile, the US dollar strengthened and bond futures slipped back.
At 12.30pm, Malaysia's benchmark index was up 7.04 points to 1,626.1 amid a broadly positive market that registered 625 gainers compared to 443 decliners.
The share turnover was 3.15 billion changing hands for RM1.77bil.
The financial services, plantations and property sectors led the market higher. With 11 of the 13 market sectors chalking up gains, the only two laggards were energy and transport and logistics.
Blue chips lifting the FBM KLCI included Kuala Lumpur Kepong up 22 sen to RM20.02, Sunway rising eight sen to RM4.18, RHB adding five sen to RM5.65 and MISC climbing five sen to RM8.69.
On the broader market, Apollo surged 34 sen to RM6.94, IJM jumped 23 sen to RM3.59 and Itmax leapt 15 sen to RM2.91.
Of actives, Velesto
dropped one sen to 24.5 sen, Ekovest gained two sen to 52.5 sen and JAKS rose 0.5 sen to 17.5 sen.
In key Asian markets, China's composite index bounced back 0.11% to 2,974 following a weak start as the People's Republic's gross domestic product report showed its economy slowed in the recent quarter. Hong Kong's Hang Seng dropped 1.39% to 18,038.
Singapore's Straits Times index was flat at 3,497.
In Japan, the stock exchange remained closed for a holiday.
