KUALA LUMPUR: The FBM KLCI leapt higher over the morning session on the back of a sharp rebound in US markets.
The Wall Street rally defied expectations of further losses following the release of hot inflation data, although analysts expects the rally to be short-lived.
At 12.30pm, Malaysia's key index was up 15.28 points to 1,388.64. The market breadth was positive with 460 gainers compared with 263 decliners.
Trading volume was 1.21 billion shares valued at RM761.96mil.
Leading the market higher was Public Bank rising five sen to RM4.22, IHH up 10 sen to RM5.70 and PETRONAS Chemicals gaining 12 sen to RM8.57.
Sime Darby Plantation rose 10 sen to RM4.04, Maxis added eight sen to RM3.37 and Nestle climbed RM1.50 to RM131.30.
Technology counters were also bolstered by the increase in the Nasdaq overnight with MPI adding 34 sen to RM25.80 and KESM gaining 23 sen to RM6.92.
Most actively traded counters included Top Glove up one sen to 70 sen, MYEG rising five sen to 84 sen and Vinvest down 0.5 sen to 19.5 sen.
Asian stocks pares weekly losses after days of selling in anticipation of the US inflation rate.
Japan's Nikkei jumped 3.5% to 27,150, South Korea's Kospi rose 2.5% to 2,217 and China's composite index gained 1.6% to 3,063.
Hong Kong's Hang Seng climbed 3.4% to 16,942 and Australia's ASX added 1.8% to 6,792.