KUALA LUMPUR: Mild bargain hunting on bank stocks, which came under selling pressure recently, enabled the benchmark FBM KLCI to snap its recent losing streak on Wednesday, Feb 10.

Investors were seen picking up CIMB and AMMB and also power giant Tenaga on hopes of a recovery as the European Union puts in place a rescue plan for debt-laden Greece.

The fresh corporate earnings also helped underpinned sentiment while the strong industrial production index in December showed a recovery in the manufacturing sector.

At 12.30pm, the FBM KLCI rose 10.83 points to 1,244.69. Turnover was 318.45 million shares valued at RM506.31 million. There were 333 gainers, 200 losers and 224 stocks unchanged.

Among key regional markets, Japan's Nikkei 225 rose 0.48% to 9,980.96 but Hong Kong's Hang Seng Index fell 0.04% to 19,782.88 and Singapore's Straits Times Index eased 0.41% to 2,733.72.

Crude palm oil futures rose RM2 to RM2,557, light crude oil added 45 cents to US$73.3 and US spot gold fell US$1.40 to US$1,076.70.

Tasek jumped 51 sen to RM4.66 on its proposed 63 sen dividends while stronger earnings saw Guinness adding 18 sen to RM6.78.

CIMB rose 16 sen to RM12.38, AMMB 15 sen to RM4.87 and Tenaga 14 sen higher at RM7.99. Genting Malaysia rose 10 sen to RM2.82. Maybank and Public Bank gained eight sen to RM6.80  and RM11.08.

Sanichi was the most active with 13.5 million shares done, unchanged at 11.5 sen.

Nestle was the top loser, down 80 sen to RM33.10, UMS slipped 28 sen to RM1.27 while Latitude shed eight sen to RM2.14.