KUALA LUMPUR: Bursa Malaysia surged in early morning trade as Petronas Chemicals and financial heavyweights were driven higher on improved investor sentiment and a boost from firmer commodities prices.The market was seen tracking Wall Street's overnight performance higher given the broad-based rebound in US euqities. This came a day after the US equities market was pummelled by a tech rout as rising bond yields spooked investors.At 9.30am, the FBM KLCI was up 17.71 points to 1,548.13 as investors grew even more bullish on Petronas Chemicals given the spike in oil prices while bargain-hunters picked up sold-down financial heavyweights.Market breadth was positive with 480 gainers compared to 189 decliners.According to Malacca Securities Research, the key index may continue to trade higher over the near term given the rebound in US markets while the easing domestic restrictions may also continue to offer upside. "The reopening of economic activities should support the market sentiment and the recovery narrative for now," it said.By sector, the research house said the firmer commodities prices should play a role in drawing interest into oil and gas and plantation stocks as Brent crude stood above US$82 a barrel while crude palm oil advanced to above RM4,700 a metric tonne.The gains in the Baltic Exchange Dry Index to above 5,400 could also see continued interest in transport stocks.At the time of writing, Petronas Chemicals was up 34 sen to RM9.03, leading the strong gains on the market.In banks, Maybank climbed nine sen to RM8.10, Public Bank added three sen to RM4.09, CIMB gained seven sen to RM4.79 and Hong Leong Bank was up 14 sen to RM18.88.In the plantation sector, Sime Darby Plantation was up 12 sen to RM3.79, Kuala Lumpur Kepong rose 90 sen to RM21.08 and IOI Corp gained eight sen to RM3.86.Elsewhere, Press Metal added 11 sen to RM5.89 while Tenaga gained 11 sen to RM9.73.Top actives on the market were SC Estate Builder up three sne to 12 sen, Sapura Energy gaining 0.5 sen to 10.5 sen and Serba Dinamik rising 1.5 sen to 34 sen.
