KUALA LUMPUR (April 13): The FBM KLCI rose in early trade this morning in line with the rally at regional markets, lifted by selecgt blue chips including Public Bank Bhd and Tenaga Nasional Bhd.

At 9.03am, the FBM KLCI rose 6.68 points to 1,721.68.

The early gainers included British American Tobacco (M) Bhd, Guiness Anchor Bhd, PBB Group Bhd, Public Bank Bhd, Tenaga Nasional Bhd, IHH Healthcare Bhd, Kuala Lumpur Kepong Bhd and Pos Malaysia Bhd.

Asian share markets rallied on Wednesday as a revival in risk appetite knocked back the yen and oil ran into only modest profit-taking after reaching a major chart milestone that augured well for further gains ahead, according to Reuters.

Whether sentiment hangs together could depend on China trade data due later in the session. Forecasts favour some improvement in exports and imports in March after a dire February, which would likely underpin commodities, it said.

JF Apex Securities Research in its market preview today said US stocks jumped almost 1% overnight as higher oil prices boosted financial and energy counters.

It said that similarly, European markets ended higher after commodity prices climbed.

“On the local market, the FBM KLCI extended its sideways trend after shedding 0.28 points to 1715 points.

“Following the bullish performance in the US and Europe, the FBM KLCI is expected to retest the stubborn resistance of 1727 points,” it said.