KUALA LUMPUR: The FBM KLCI pushed higher into midday as financial stocks continued their advance while other sectors erased earlier losses.

       At 12.3-pm, the FBM KLCI was up 8.76 points to 1,592.67 as the ramp up in investor confidence over the reopening economy continued.

       Brent crude prices hovered at multi-year highs, having crossed the US$84 a barrel mark in the previous session.

       MISC jumped 15 sen to RM7.05 amid the growing demand for shipments while plantations counter Sime Darby Plantation grew four sen to RM4.30, IOI gained two sen to RM4.07 and Kuala Lumpur Kepong rose two sen to RM22.72.

       Financial heavyweights were led higher by Maybank gaining six sen to RM8.29, Public Bank rising four sen to RM4.20, CIMB climbing six sen to RM5.17 and Hong Leong Bank adding 10 sen to RM18.66.

       Most actively traded counters were Serba Dinamik unchanged at 41.5 sen, SCIB flat at 50.5 sen and Brahims up 4.5 sen to 56 sen.

       Meanwhile, major developed markets slumped as an energy crunch and escalating commodity costs sent inflation levels soaring.

       Japan's Nikkei fell 0.2% while South Korea's Kospi rose 1% as investors picked up oversold counters following a sharp plunge in the prevoius session.

       China's main index dropped 0.35% and Hong Kong's Hang Seng slid 1.4%.

       In Australia, the ASX200 fell 0.1%.