KUALA LUMPUR (Nov 25): The main index at Bursa Malaysia came out its state of torpor in early trade Wednesday, tracking the global market rally after the fresh overnight records at Wall Street.

At 9.05am, the FBM KLCI added 4.07 points to 1,582.46.

The early gainers included Carlsberg Brewery Malaysia Bhd, Malaysian Pacific Industries Bhd, Nestle (Malaysia) Bhd, Public Bank Bhd, United Plantations Bhd, Yinson Holdings Bhd, Press Metal Aluminium Holdings Bhd, Hengyuan Refining Company Bhd and GETS Global Bhd.

Bloomberg said a global equity rally picked up steam on Wednesday after US stocks climbed to fresh records, with cash continuing to flow into cyclical sectors.

The dollar extended its decline, it said.

JF Apex Research said US markets rallied yesterday on hopes for a stronger economic recovery in next year with positive vaccine news and easing of political uncertainty as the Trump administration approved the start of the presidential transition.

It said that similarly, European bourses closed higher amid vaccine optimism and Biden transition progress.

“On the local market, the FBM KLCI tumbled 19.09 points or 1.20% to 1578.39 points on concerns of Budget 2021 vote in Parliament.

“Following the strong showings by the overseas markets, the FBM KLCI could trend positively on bargain hunting activities,” it said.