KUALA LUMPUR: The FBM KLCI bounced higher after a weak opening as the ongoing rally in crude oil prices lent support to equities while optimism grew over scheduled corporate earnings results.

       At 12.30pm, the benchmark index was up 4.97 points to 1,583.86.

       However, market breadth remained negative with 518 decliners compared to 362 decliners.

       On the blue-chip index, banks remained supported by expectations of economic recovery. Public Bank rose one sen to RM4.36, CIMB gained nine sen to RM5.64 and Hong Leong Bank climbed 28 sen to RM20.28. Maybank was flat at RM8.57.

       Telcos were also higher on recent 5G network developments, led by Maxis up four sen to RM4.47, Digi gaining one sen to RM4.15 and Axiata rising three sen to RM3.96.

       Meanwhile, oil and gas counters rallied as Brent crude futures rose to a seven-year high. At the time of writing, the international benchmark for crude oil was up 1.1% to US$95.44 a barrel.

       Hengyuan added 23 sen to RM4.38, Hibiscus Petroleum gained six sen to RM1.15 and Petronas Malaysia jumped 17 sen to RM4.85.

       Top actives on Bursa were KNM unchanged at 18.5 sen, SMTrack up one sne to 20.5 sen and AHB rising 3.5 sen to 19.5 sen.

       Elsewhere in the region, markets fell on fears over tensions between the world's superpowers as the prospect of a Russian invation of Ukraine loomed.

       Japan's Nikkei fell 2.2%, South Korea's Kospi dropped 1.6% and China's composite index slid 0.6%.

       Hong Kong's Hang Seng shed 1.25% while Australia's ASX200 gained 0.25%.