KUALA LUMPUR (June 30): The FBM KLCI opened higher on the final trading day of the first halk of 2016, tracking gains at regional markets and the overnight rally at Wall Street.

At 9am, the FBM KLCI rose 2.48 points to 1,644.69.

The early gainers included Danainfra Nasional Bhd, Enra Group Bhd, Public Bank Bhd, UMW Holdings Bhd, Hai-O Enterprise Bhd, Telekom Malaysia Bhd, Can-One Bhd, Malayan Banking Bhda and OldTown Bhd.

Asia stocks rose on Thursday, tracking an overnight rally on Wall Street, while the safe-haven Japanese yen retreated as global markets regained a semblance of calm after last week's Brexit shock, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 percent, pulling further away from a one-month low on Friday when it plunged more than 3 percent in reaction to Britain's decision to leave the European Union, it said.

JF Apex Securities Research in a market preview today said US markets rallied over 1.5% to recover from post-Brexit plunge following higher oil prices.

It said that similarly, European stocks surged and extended the rebound as Brexit concerns eased. 

“On the local market, the FBM KLCI continued its ascend after rising 8.17 points to 1642.21 points.
“Following the bullish performance in the US and Europe, the FBM KLCI is expected to extend its rebound with resistance at 1665 points,” it said.