KUALA LUMPUR: The FBM KLCI followed regional markets to trade higher in early trade Wednesday on the back of the overnight gains at Wall Street.

       At 9.04am, the index rose 5.84 points, or 0.38% to 1,531.77. There were 193 gainers against 188 decliners while 234 trade unchanged.

       Overnight, the Dow Jones Industrial Average and S&P500 gained 0.80% and 0.95% to end at 33,180.14 and 4,160.68 respectively. Nasdaq added 0.94% to end at 12,175.23.

       Rakuten Trade Sdn Bhd said Wall Street rose for a second day, climbing to session highs in the last hour of trading amid a broad-based rally.

       The Dow gained more than 250 points while Nasdaq jumped 114 points as 10-year U.S. Treasury benchmark retreated to dip below 3%.

       “Reflecting the rally on Wall Street, we reckon the index to possibly trend higher today as regional performance is expected to see an upswing. Thus, we believe the index to hover within the 1,520-1,540 range today.

       “Meanwhile Brent crude futures rose to US$120.35 to on supply concerns,” it said.

       Mercury Securities expects the Malaysian equities to trade sideways absent any new major catalysts.

       ACE Market debutant LGMS Bhd is the most actively traded counter on Bursa Malaysia. The counter added 10.5 sen, or 21% to 60.5 sen with 82.58 million shares traded.

       The cyber security services provider aims to raise gross proceeds of up to RM45.7mil via the IPO. At the IPO price of 50 sen per share, the company will have a market capitalisation of RM228mil upon listing.

       Among the gainers, Petronas Dagangan rose 40 sen to RM22.04, Heineken gained 32 sen to RM24.82 and F&N added 28 sen to RM20.08.

       Nestle fell 70 sen to RM133.10, PPB lost 22 sen to RM16.34 and Malaysia Smelting Corp eased 17 sen to RM3.29.