KUALA LUMPUR: Bursa Malaysia showed continued uncertainty in early morning trade despite Wall Street's strong comeback in overnight trading, which was expected to improve investor sentiment.

       At 9.05am, the FBM KLCI was up just 0.7 point to 1,598.01, suggesting that investors were wary of crossing the 1,600 psychological resistance.

       Wall Street stocks surged overnight with the Nasdaq jumping 3.1% on the back of a tech rally as Facebook parent Meta recorded an increase in subscriber numbers.

       However, an expected rate hike decision at the US Federal Reserve Open Committee meeting next week continued to dampen appetite in equities, leading to continued caution and a risk-off mood.

       Meanwhile, Malacca Securities Research suggests the market will see further upside from the domestic economic recovery.

       "While global uncertainties may still loom, the recovery-themed sector on the local bourse may gain traction as further relaxation of Covid-19 SOPs effective 1st May 2022 could signal a greater extent of economic recovery," it said.

       Leading the gains, Petronas Chemicals climbed 12 sen to RM10.22 to offset profit-taking in the plantations sector.

       Palm oil producers saw profit-taking following their recent rally on news of Indonesia's suspension of overseas palm oil sales, although experts now expect the ban to be short-lived.

       Kuala Lumpur Kepong dropped 12 sen to RM29.16, IOI slipped three sen to RM4.65 an Sime Darby Plantation rose two sen to RM5.25.

       In the tech setor, stocks rallied on the heels of the Nasdaq's strong showing. MPI gained 56 sne to RM32, Unisem added three sen to RM2.90 while Vitrox rose 10 sen to RM7.60.

       On the most actives list, Euro rose 5.5 sen to 23 sen, VC gained one sen to 19 sen and Anzo fell 0.5 sne to one sen.