,KUALA LUMPUR: The FBM KLCI jumped on Thursday following the Prime Minister's announcement of the RM20bil Pemerkasa stimulus package and as global investors received confirmation from the US Federal Reserve that it would maintain its ultra-low interest rates.At 12.30pm, the key index was up 7.05 points to 1,632.02, boosted mainly by an advance in financial heavyweights.Maybank was up two sen to RM8.37, Public Bank added four sen to RM4.28, Hong Leong Bank rose four sen to RM19.34 and CIMB was flat at RM4.51.The Malaysian government's stimulus package, which includes an increase in micro credit fianncing and the extension of wage subsidy, bodes well for the economic recovery, said Malacca Securities Research."We believe the economic stimulus package will shine a light on the recovery-themed sectors, such as tourism, gaming, aviation, banking and consumer."Meanwhile, traders might want to focus on laggards such as the property and construction sectors to look for trading opportunities," it said in a note.Other stocks seen rising on Bursa include leading gainers MPI gaining RM1.96 to RM38.60, CCB climbing 50 sen to RM2.18 and 42 sen to RM26.66 and Heineken rising 42 sen to RM26.66.Overnight, the Dow Jones Industrial Average closed above 33,000 points for the first time after the US central bank pledged to remain accomodative as the economy recovers from the damage caused by the Covid-19 pandemic.This helped lift Asian markets, which had been under selling pressure on the back of tightening fears.Japan's Nikkei rose 0.7% and South Korea's Kospi gained 0.7%. In China, the composite index was up 0.55% while Hong Kong's Hang Seng jumped 1.5%.Australia's ASX200 was down 0.7% minutes before the close of trading.
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