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buy apple account(buyappleacc.com):Banks rally on vaccination, economic hopes

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,KUALA LUMPUR: The rally on the domestic market picked up pace over the morning session, led by a jump in financial heavyweights as optimism grew over the economic reopening.At 12.30pm, the blue-chip FBM KLCI was up 20.8 points to 1,543.23, its highest trading level in nearly two months.From a technical standpoint, the index was turning more bullish, breaching the 50-day simple moving average in a sign of strong positive sentiment.Bank stocks saw a surge in buying interest on growing confidence in the recovery theme.Maybank climbed 13 sen to RM8.30, Public Bank jumped 10 sen to RM4.04, CIMB added 11 sen to RM4.79 and Hong Leong Bank rose 30 sen to RM18.70.IHH Healthcare also added nine sen to RM5.80 while Sime Darby Plantation jumoed 23 sne to RM4.14.Among tech-related stocks, Genetec gained RM1.62 to RM25.68, KESM rose 36 sen to RM12.46 and MPI rallied 36 sen to RM44.50.Of actives, VSolar was flat at 1.5 sen, MMAG fell one sen to 11.5 sen and Avillion dropped 0.5 sen to 15.5 sen.Meanwhile, major Asian markets rallied on the strength of Wall Street's positive overnight close, led mostly by the FDA's full approval of the Pfizer-BioNtech vaccine, which is expected to bolster its use and acceptance.Fears the US Federal Reserve may take the pedal off monetary stumulus were also eased as analysts pointed towards decelerating global business activity.Japan's Nikkei rose 1.1% and South Korea's Kospi climbed 1.4%.China's benchmark index gained 1% while Hong Kong's Hang Seng jumped 1.6% and Australia's ASX200 edged 0.3% higher.
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