KUALA LUMPUR: Malaysia's blue chips rebounded on Monday after a period of heavy outflows last week into China's markets as investors rushed to capitalise on new stimulus measures announced by Beijing.
At the midday break, the benchmark FBM KLCI was up 4.25 points to 1,634.22 as the heavyweight retraced higher from heavy losses in the previous week.
Last Friday's expectation beating US jobs report helped to alleviate fears of a recession in the world's largest economy, helping to shore up global equities prices.
Malaysia's lower liners continued to lag behind the blue chips, leading to a slightly negative market breadth of 468 decliners to 443 gainers.
The trading volume was 1.62 billion shares valued at RM1.27bil.
PETRONAS Dagangan surged 44 sen to RM18.38, PPB gained 24 sen to RM14.64 and Press Metal
added six sen to RM4.98.
In plantations, Kuala Lumpur Kepong climbed eight sen to RM20.98 and IOI added two sen to RM3.74.
Of actives, OCR was down 0.5 sen to three sen, Sanichi unchanged at 1.5 sen and Dnex gained 0.5 sen to 38 sen.
Meanwhile, other Asian markets were also on a rally after the strong US payrolls report.
China's stock exchange reopened after an extended holiday, surging 8.06% to 3,336.
Hong Kong's Hang Seng was carried along by the momentum, adding 1.15% to 22,997.
Japan's Nikkei, meanwhile, jumped 2.18% to 39,463 and Singapore's Straits Times index gained 0.24% to 3,597.
