,KUALA LUMPUR: The FBM KLCI was seen picking up momentum in late-morning trade as investors turned optimistic over the relaxation of restrictions in Phase 1 states for those who are fully vaccinated.Buoyed by the prospect of a gradual reopening, the market shrugged off an extended fall in major regional markets amid fears of the US easing off monetary stimulus.At 12.30pm, the key index was up 6.19 points to 1,521.14."We believe the factors such as a clearer picture on the political front, further relaxed SOPs in NRP Phase 1 states as well as the corporate earnings season this month should contribute to the trading interest on the local bourse," said Malacca Securities Research in its daily outlook.It remained bullish on the recovery-theme sectors such as consumer and transport and logistics following the relaxation of the SOPs.On the FBM KLCI, Sime Darby Plantation jumped 28 sen to RM4.07 on the back okf its recent earnings result.Bank stocks were also higher led by Maybank up three sen to RM8.12, Public Bank rising one sen to RM3.92, CIMB gaining four sen to RM4.64 and Hong Leog Bank adding four sen to RM18.34.Over the broader market, tech-related counters were bullish with MPI gaining 44 sen to RM43.88, Vitrox climbing 38 sen to RM19.22 and Unisem adding 26 sen to RM8.59.Top actives were KNM up 1.5 sne to 23 sen, Advance Synery rising 1.5 sen to 18.5 sen and TFP unchanged at 21 sen.In Asian markets, equities fell further as the prospect that the US Fed would dial back on monetary support for the economy dampened sentiment.Japan's Nikkei was down 0.7% and South Korea's Kospi shrank 0.7%. China's benchmark index slumped 1.7% while Hong Kong's Hang Seng dove 2.3%.Australia's ASX200 was up 0.1%.
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