KUALA LUMPUR: The FBM KLCI trend higher in early trade Thursday, tracking the overnight gains at Wall Street, as Maybank, IHH Healthcare and Axiata lifted.

       The benchmark index added 6.66 points to 1,590.08 at 9.34am with 339 gainers, 176 losers, and 271 traded unchanged.

       Overnight, Dow Jones Industrial Average rose 0.97%, to 35,294.19, the S&P 500 gained 1.23%, to 4,631.6 and the Nasdaq Composite added 1.84%, to 14,619.64.

       TA Securities said the local market should rebound on optimism over progress in Russia-Ukraine peace talks and potential de-escalation and eventual ceasefire in the present conflict, which would encourage the return of economic reopening plays.

       “Immediate index support remains at 1,580, with 1,560, 1,540, 1,520 and the 1,500 psychological level as stronger supports, while crucial supports are at 1,470 and 1,452. Immediate resistance will be at 1,620, with 1,640, 1,660 and 1,680 as stronger upside hurdles,” it said.

       Mercury Securities expects Malaysian equities to rebound following news that Russia said it will drastically cut military activity near Kyiv.

       Among heavyweights, Maybank added five sen to RM8.98, Public Bank climbed two sen to RM4.65, IHH Healthcare gained five sen to RM6.24 and Axiata perked up eight sen to RM3.83.

       On the broader market, Malaysian Pacific Industries rose 98 sen to RM37.38, Heineken added 20 sen to RM22.70, ViTroc advanced 19 sen to RM8 and Yinson climbed 16 sen to RM4.65.

       SCGM lost eight sen to RM2.10, Padini declined seven sen to RM3.27, Genting Plantation eased six sen to RM8.72 and Kim Loong fell six sen to RM1.90.