KUALA LUMPUR (June 20): The FBM KLCI snapped its losing streak and rose in early trade this morning, tracking the rebound at most regional markets.

Meanwhile, Bursa Malaysia debutant Mi Equipment Holdings Bhd made an impressive start.

At 9.05am, the FBM KLCI rose 8.24 points to 1,723.60.

The top gainers included Nestle (M) Bhd, Fraser & Neave Holdings Bhd, United Plantations Bhd, Top Glove Corp Bhd, Public Bank Bhd, Hong Leong Financial Group Bhd, Malaysia Airports Holdings Bhd, Genting Bhd, Malayan Banking Bhd and Press Metal Aluminium Holdings.

Mi Equipment topped the most actively traded stocks and rose 4 sen to RM1.46 with 18.08 million shares done.

Stocks in Asia rebounded from recent losses on Wednesday as investors sought bargains, a day after the spectre of a U.S.-China trade war drove down bond yields, and share and commodity prices, according to Reuters.

The improved risk appetite pushed the yield on benchmark 10-year Treasury notes higher to 2.9004 percent compared with its U.S. close of 2.893 percent on Tuesday, it said.

JF Apex Securities Research in a market preview said US markets plunged overnight due to escalating concerns of a trade war between the US and China.

It said that similarly, European stocks tumbled as US and China threatened to impose more tariffs on each other.

“On the local market, the FBM KLCI plunged 28.07 points to 1715.36 points.

“Following the bearish performance in global markets, the FBM KLCI is expected to retreat further towards its support at 1700 points,” it said.