KUALA LUMPUR: The Malaysian stock market gauge rose 10.26 points to 1,272.08 points following a better showing across US stock indices after the world's largest economy posted a better than expected economic growth in the first quarter.
This came amid a dip in crude oil prices partly due the strengthening US dollar which made the US dollar-denominated commodity more expensive for global traders.
At 10.03am, leading movers of the 100-company Kuala Lumpur Composite Index (KLCI) include Genting Bhd whose shares rose 20 sen to RM6.05, and IOI Corp Bhd which added 10 sen to RM7.25. PPB Group Bhd, meanwhile, climbed 50 sen to RM11.50.
Market breadth was positive across Bursa Malaysia. There were 165 gainers and 124 losers while 174 stocks traded flat. A total of 106.43 million shares worth RM278.7 million were traded.
Among Asian bourses, Japan's Nikkei 225 added 115.88 points to 14,240.35, Hong Kong's Hang Seng dropped 26.39 points to 24,357.6 while Australia's S&P/ASX 200 shed 28.8 points to 5,680.6.
In the US yesterday, crude oil for July 2008 delivery fell US$4.41 (RM14.34) to settle at US$126.62 a barrel on the New York Mercantile Exchange.
The Dow Jones Industrial Average rose 52.19 points to 12,646.22 points, Nasdaq cllimbed 21.62 to 2,508.32, while S&P 500 added 7.42 to 1,398.26.