KUALA LUMPUR: The rally on the FBM KLCI grew stronger over the morning session as investors leveraged on an uptick in global sentiment to pour into bargains.

       Positive developments in ongoing negotiations between Russia and Ukraine helped to bolster the rally, while the US Federal Reserve's 25bps interest rate hike, in line with expectations, alleviated some anxiety over the pace of the central bank's hawkish cycle.

       At 12.30pm, the benchmark index was up 16.53 points to 1,587.85.

       The number of positive counters on the market outweighed the negative by 683 to 262.

       Maybank led the rally with a 12 sen jump to RM9.02 while sector peers Public Bank rose five sen to RM4.57 and CIMB climbed seven sen to RM5.37 and Hong Leong Bank climbed 60 sen to RM20.80.

       Petronas Chemicals gained 14 sen to RM9.45.

       In the tech sector, MPI gained RM3.68 to RM35.23, Vitrox climbed 62 sen to RM7.09 and Greatech rose 14 sen to RM3.82.

       Meanwhile top actives were DNeX up three sen to RM1.03, AT unchanged at two sen and XOX flat at two sen.

       Major Asian markets were in a bullish mood as the risks over the Fed's rate hike plans and concerns over the Russia-Ukraine war eased.

       Japan's Nikkei rose 3.3%, South Korea's Kospi gained 1.8% and China's composite index jumped 2.6%.

       Hong Kong's Hang Seng surged 5.8% amid a Chinese state media report that suggested government support for Chinese stocks.

       Australia's ASX200 was up 1.1%.