KUALA LUMPUR (June 19): The FBM KLCI rebounded in early trade on Friday, lifted by gains at select blue chips including banking giants Malayan Banking Bhd and Public Bank Bhd.

At 9.03am, the FBM KLCI added 0.56 points to 1,718.68.

The top gainers included IHH Healthcare Bhd, Berjaya Sports Toto Bhd, Genting Bhd, Karex Bhd, Oriental Food Industries Bhd, Eco World Development Group Bhd, Malayan Banking Bhd, Public Bank Bhd and Unisem (M) Bhd.

Stock markets around the world rallied on Thursday, while the U.S. dollar fell, a day after the Federal Reserve signalled that interest rates would rise more slowly than many had expected, according to Reuters.

While uncertainty over Greece continued to weigh on sentiment, hopes that a deal would be reached returned European equities to positive territory, it said.

JF Apex Securities Research in a market preview today said US markets jumped with the Nasdaq hitting record high as investors see no immediate rate hike following the Fed's recent meeting.

Similarly, it said European stocks closed higher as finance ministers of Europe gather to formulate a rescue plan for Greece.

“On the local market, the FBM KLCI resumed its downtrend after losing 8.74 points to 1718.12 points.

“Following the bullish performance in the US and Europe, the KLCI could rebound from its support of 1715 points.

“Investors await Bank of Japan's decision after its two day policy meeting,” it said.