KUALA LUMPUR: Strong buying support in Wall Street markets coupled with a slew of stimulus packages to prop up the Chinese economy is keeping the rally going on the domestic market.
After a positive performance in the previous session, the FBM KLCI rose another 3.69 points to 1,674.06 at Wednesday's open, affirming the positive momentum that has returned to the market.
Malacca Securities Research said the positive sentiment in China is expected to trigger a rebound in overall demand for commodities.
"Upside potential is likely within commodities-related sectors such as oil and gas, plantation, and building materials," said the research firm in a note.
It added that there are opportunities in construction, property, consumer and manufacturing sectors amid the strong ringgit environment.
Rising in early trade, Tenaga Nasional gained eight sen to RM15.12, Telekom Malaysia rose nine sen to RM6.70 while YTL Power added five sen to RM3.98.
PETRONAS Dagangan climbed eight sen to RM18.36, Sunway gained four sen to RM4.34 while Sime Darby rose three sen to RM2.35.
Top actives on the market included Globetronics, rising six sen to 77 sen, Artroniq gaining one sen to 9.5 sen and VS Industry rising three sen to RM1.14.
