KUALA LUMPUR (July 10): The FBM KLCI rose with Asian shares today after US equities climbed overnight. Reuters reported that US stocks rose on Monday, giving the Dow and S&P 500 their biggest gains in more than a month, as bank shares jumped ahead of earnings reports later this week. 

It was reported that the Dow Jones Industrial Average rose 320.11 points or 1.31% to 24,776.59, the S&P 500 gained 24.35 points or 0.88% to 2,784.17 and the Nasdaq Composite added 67.81 points or 0.88% to 7,756.20.

At Bursa Malaysia today, the KLCI opened 2.42 points or 0.1% higher at 1,675.05. At 9:13am, the KLCI climbed 7.5 points to 1,680.13.

"Taking cue from the overnight positive Wall Street, we think stocks on the broader market may trade on a positive note. Nevertheless, traders are still monitoring the trade developments from US and its trading partners, should there be any retaliation measure by its trading partners, the upside could be limited," Hong Leong Investment Bank Bhd wrote in a note today.

Malaysian stocks rose with Asian shares. Reuters reported that Asian shares sought to rally for a third session on Tuesday as hopes for upbeat corporate earnings buoyed Wall Street, while several high-profile resignations from Britain's government kept sterling on the defensive. MSCI's broadest index of Asia-Pacific shares outside Japan put on 0.2% in early trade, adding to a 1.3% rise on Monday.