KUALA LUMPUR: The FBM KLCI extended its gains on Wednesday, July 14 in line with key regional markets on the back of the strong overnight close at Wall Street.

US stocks rallied on Tuesday after Alcoa's quarterly results heartened investors that had fled to the sidelines on jitters about the sustainability of the economic recovery, according to Reuters.

Intel posted net income of US$2.9 billion (RM9.25 billion), or 51 US cents a share, versus a net loss of US$398 million, or 7 US cents a share, in the second quarter of 2009, when Intel's results included a US$1.4 billion fine by the European Commission.

The Dow Jones Industrial Average gained 146.75 points, or 1.44%, to 10,363.02 points, the sixth day of gains. The Standard & Poor's 500 Index rose 16.59 points, or 1.54%, to 1,095.34 points. The Nasdaq Composite Index jumped 43.67 points, or 1.99%, to 2,242.03 points.

At 9.05am, the FBM KLCI advanced 3.90 points to 1,336.77. Gainers led losers by 127 to 11, while 72 counters traded unchanged.  Volume was 24.92 million shares valued at RM23.69 million.

Among the early gainers were KFCH that added 34 sen to RM10.96, MMosaic up 30 sen to RM2.18, and BAT 20 sen to RM44.

Rubber glove makers also rose this morning, as did plantation counters.

Kossan added 14 sen to RM8.14, Kulim up 12 sen to RM7.87 while Top Glove and KLK were up six sen each to RM14.18 and RM16.40, respectively.