KUALA LUMPUR (June 30): The FBM KLCI edged up higher and crossed the 1,500-level in early on the final trading day of the first half of 2020, tracking gains at regional markets following the overnight bounce at Wall Street.

At 9.10am, the FBM KLCI rose 5.89 points to 1,500.32.

The early gainers included Panasonic Manufacturing Malaysia Bhd, Petronas Dagangan Bhd, QL Resources Bhd, Allianz Malaysia Bhd, Supermax Corp Bhd, Top Glove Corp Bhd, Rubberex Corp Bhd, PPB Group Bhd, Kuala Lumpur Kepong Bhd and Press Metal Aluminium Holdings Bhd.

Bloomberg said Asian stocks opened higher Tuesday, set to round out their best quarter since 2009 in a rebound from a devastating start to the year, as optimism about a recovery overshadows concerns over an increase in U.S. coronavirus cases.

Benchmarks rose more than 1% in Japan, Australia and South Korea. Hong Kong assets will be closely watched after the Trump administration suspended some trade benefits for the city. S&P 500 futures edged higher after the benchmark erased its June decline as a report showed U.S. pending home sales posted a record gain, exceeding all forecasts. The tech-heavy Nasdaq extended gains as Facebook Inc. wiped out its losses. The dollar and Treasuries were little changed. Oil fluctuated, it said.

Rakuten Trade Sdn Bhd in its daily market report said Wall Street rebounded on better economic data amid concerns of worsening Covid-19 cases in the US.

It said the Dow Jones Industrial Average gained 580 points to close at almost the 25,600 level.

“With this, regional markets may see improved performances today following yesterday’s broad base decline.

“Back home, the local bourse should continue with its uptrend after yesterday’s rather surprising late reversal and expect the FBM KLCI to challenge the 1,500 level again,” it said.