KUALA LUMPUR: Blue chips opened higher on Tuesday, Nov 10, as investors' risk appetite for equities improved following the strong overnight close on Wall Street.

At 9am, the 30-stock FBM KLCI opened 5.28 points higher at 1,273.03. Turnover was 37 million shares valued at RM18.72 million.

HWangDBS Vickers Research, says in its market-outlook report that the benchmark FBM KLCI — which will likely surpass its recent high of 1,270 today — should be on its way to the immediate resistance mark of 1,280 anytime soon.

Giving a boost to overall sentiment was the overnight jump on Wall Street, as major US equity indices surged between 2% and 2.2% at the closing bell amid news that the G20 nations have agreed to continue their stimulus initiatives.

"There will also be a flurry of news flows on the domestic front to keep investors busy today. They include the possibilities of strategic tie-ups and signings of contracts/licenses on the back of the high-profile visit by the China's president to Malaysia.

"Other news expected today includes the release of the index of industrial production for September, the October plantation industry report and CIMB's  latest quarterly financial performance later in the evening,"  said HWangDBS Vickers Research.

BAT was the top gainer, adding 70 sen to RM46.78, with only 100 shares done.

PPB added 22 sen to RM15.78, Aoen 20 sen to RM5.19 while Pelikan, which resumed trading after announcing a takeover on Monday, added 14 sen to RM1.55.

KL Kepong rose 14 sen to RM15.24 and CIMB 10 sen to RM12.74.