KUALA LUMPUR (Dec 16): The FBM KLCI rebounded in early trade and jumped 0.91% in line with the gains at most regional markest following the overnight rally at European markets and Wall Street.

At 9am, the FBM KLCI jumped 15 points to 1,637.84.

The top gainers included Aeon Credit Services (M) Bhd, Petronas Gas Bhd, Tenaga Nasional Bhd, Top Glove Corporation Bhd, Sime Darby Bhd, Public Bank Bhd, Carlsberg Brewery (M) Holdings Bhd. Telekom Malaysia Bhd,Inari Amertron Bhd and QL Resources Bhd.

Asian stocks gained early on Wednesday, with sentiment lifting as Wall Street rose before a likely hike in U.S. interest rates, while the dollar held to large gains made as Treasury yields picked up, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.7 percent, it said.

JF Apex Securities Research in a market preview today said U.S. stocks closed higher Tuesday, amid recovery in oil prices and expectations for the first rate hike in nine years. 

It said energy and financials jumped more than 2 percent each to lead all S&P 500 sectors higher. 

Similarly, the research house said European equities finished sharply higher, inspired by positive data from the auto sector.

“On the local exchange, the FBM KLCI extended its losing streak by shedding 7.12 points to end at 1622.84 points yesterday.

“Following the positive performance in overseas markets, we envisage the local benchmark index to stage a mild rebound to hover below its resistance level of 1645 points,”it said.