US markets climbed on Friday after President Trump hinted a bigger coronavirus stimulus package. Earlier in the day, European stocks advanced despite UK's lower-than-expected GDP as investors track US stimulus discussions.

On the local market, the FBM KLCI surged 10.92 points to 1530.35 points. Following bullish performance in the Wall Street, the FBM KLCI could extend its rebound towards the resistance of 1550 points. 

Among stocks to watch are: UEM Sunrise has entered into agreements to sell 169.8 acres of land in Johor to AME Elite Consortium for RM434.3 million. On a separate announcement, UEM Sunrise managing director (MD) Anwar Syarin Abdul Ajib, who is also the chief executive officer, tendered his resignation today after he had been at the helm for six years. Coincidently, his resignation is at the time when UEM Sunrise’s board is expected to deliberate the proposal made by its controlling shareholder, UEM Group Bhd, to merge with Eco World Development Bhd; XOX has proposed to undertake a bonus issue of up to 1.34 billion free warrants on the basis of three warrants for every eight shares held on an entitlement date to be announced later; WZ Satu has bagged an RM16.5 million contract from AsPac Lubricants (Malaysia) Sdn Bhd, a member of oil and gas BP Group, for the installation works at AsPac’s lubricant blending plant in Port Klang; AirAsia and AirAsia X have confirmed the retrenchment of 10% of their 24,000 employees last week; Kanger International’s unit, Ganzhou Kanger Industrial Co Ltd, has entered into an agreement to lease the AutoCity Building in China to Ganzhou Jiache Automobile Trading Co Ltd. In a filing with Bursa Malaysia today, Kanger said the building in the Ganzhou Economic and Technological Development Zone will be specially outfitted primarily for used passenger vehicles in the mid to high-end market segments; Focus Dynamics has acquired shares representing a 12.19% equity interest in in-flight catering firm Brahim's Holdings through a direct business transaction for RM7.34 million. Executive director Benson Tay Ben Seng said establishing cornerstone relationship with Brahim’s also opened the doors for an international trading network via airlines and in-flight catering services for Focus Dynamics’ brand of products; NetX Holdings has proposed to supply up to 1,000 contactless payment terminals to facilitate cashless and e-wallet payment solutions via DGB Networks Sdn Bhd’s next-generation artificial intelligence vending machines. The IT services provider told Bursa Malaysia that its subsidiary GEM Pay Sdn Bhd has entered into a collaboration agreement with DGB Networks for the venture.