KUALA LUMPUR (Feb 15): The FBM KLCI jumped in early trade Thursday, in line with its regional peers, and on the back of Malaysia’s economic expansion at a three-year high of 5.9% in 2017.

At 9.05am, the FBM KLCI rose 7.23 points to 1,842.16.

The gainers included Nestle (M) Bhd, British American Tobacco (M) Bhd, Carlsberg Brewery Malaysia Bhd, Hong Leong Bank Bhd, BIMB Holdings Bhd, Supermax Corp Bhd, Globetronics Technology Bhd, PPB Group Bhd and Hengyuan Refining Company Bhd.

Asian stocks gained on Thursday after Wall Street brushed aside strong U.S. inflation data and surged, a counterintuitive move that also saw the dollar pinned at two-week lows even as Treasury yields jumped in anticipation of a quicker pace of U.S. interest rate hikes, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 percent, it said.

JF Apex Securities Research in a market preview said US markets rallied overnight to extend its rebound following gains in financial and technology counters despite higher inflation data, lower retail sales and higher bond yields.

It said that similarly, European stocks jumped following gains in media and basic resources counters amid quarterly results.

“On the local market, the FBM KLCI ended flat with increase of 1.91 points to 1834.93 points to extend its consolidation.

“Following the positive performance in the US and Europe, the FBM KLCI could test its resistance of 1840 points,” it said.