KUALA LUMPUR: The domestic market rebounded following losses in the previous session as a raft of corporate earnings results are slated to be released in the coming week.

       While earnings misses from Wall Street touchstone consumer stocks Target and Walmart recently raised recession fears and led to a continued sell-off in US markets, Bursa Malaysia has proved defensive with high investor expectations for positive earnings.

       At 9.05am, the FBM KLCI was up 4.82 points to 1,554.23. There were 180 gainers compared with 105 decliners for an overall optimistic market.

       Bank stocks took an early lead with Hong Leong Bank jumping 32 sen to RM21.34 and Public Bank rising three sen to RM4.60.

       Plantation stocks however saw some volatility as Indonesia announced an end to the ban on palm oil export, which caused crude palm oil prices to fall 1.75% to RM6,531 a tonne.

       While Kuala Lumpur Kepong started the day in the red, it bounced higher 10 sen to RM27. Similarly, Sime Darby Plantation managed to rise out of negative territory for a one sen gain to RM5.24.

       IOI meanwhile was down five sen to RM4.34.

       On the broader market, stocks making a move higher included Gas Malaysia climbing 11 sen to RM3.26, KObay gaining 18 sen to RM3.38 and SAB rising 12 sen to RM4.

       Active counters included Technax up 0.5 sen to six sen, Serba Dinamik gaining 1.5 sen to 16 sen and ARB gaining 0.5 sen to 12 sen.