US markets rose overnight following bargain hunting across the board as better-than-expected quarterly results from Nike and KB Home lifted investor sentiment. Similarly, European stocks staged a rebound despite rising cases of coronavirus. 

On the local market, the FBM KLCI rose 6.35 points to 1505.78 points. Following the positive performances in the US and Europe, the FBM KLCI could stage a rebound with support at 1475 points.

Among stocks to watch are: Pasukhas has inked a partnership agreement with BB Energy Sdn Bhd to extract river sand for the export market. BB Energy has been granted a concession and temporary occupational licence for Sungai Miang, Mukim Pekan, Pahang, by Pengurusan Pasir Pahang Bhd (PPPB); Iconic Worldwide has proposed a private placement of up to 97.11 million shares, representing not more than 30% of its issued capital, to raise up to RM47.59 million for its personal protective equipment (PPE) business; Kanger International has entered into a deal to clinch the rights to distribute a China-developed COVID-19 vaccine in Southeast Asia. The latest move by Kanger follows its earlier announcement that it is venturing into the rubber glove industry; Bursa Malaysia Securities Bhd has publicly reprimanded Asdion and five of its directors for breach of the ACE Market Listing Requirements; Widad has entered into a collaboration agreement with IAQ Solutions Sdn Bhd (ISSB) to develop and supply solutions and services related to indoor air quality solutions to prevent and control airborne diseases; KESM Industries’ 4QFY20 net loss widened to RM3.28 million from RM3.02 million in the previous quarter. Meanwhile, revenue fell 14.71% to RM46.26 million from RM54.24 million; Notion Vtec has bagged a contract to supply disposable nitrile examination gloves for US$82 million or RM337.8 million.