KUALA LUMPUR: The FBM KLCI extended its rally for a fourth straight day as a continued interest in recovery-themed plays and a rebound in technology stocks sent global equities higher.At 12.30pm, the benchmark index was 14.14 points higher at 1,638.92. Trading activity was on the rise, hitting 6.2 billion shares valued at RM3.97bil.Malacca Securities Research had forecast the rally in its pre-market open report given its firm break above the 1,620 resistance level."We expect the upward trend to continue, with the resistance pegged around 1,645, while the support is envisaged around 1,600-1,620," it said.The bulls were in full control on the FBM KLCI with only two counters falling into the red. They were Genting down one sen to RM5.16 and Hap Seng Consolidated sliding four sen to RM8.11Among the banks, Maybank rose another nine sen to RM8.59, Public Bank added four sen to RM4.46 and Hong Leong Bank gained 10 sen to RM19.20.Telcos remained bullish with Maxis adding 12 sen to RM4.68 and Digi gaining eight sen to RM3.78.Top Glove also maintained its bullish trajectory after posting record-breaking earnings yesterday. The world's largest glove maker climbed 12 sen to RM5.31 while sector peer Hartalega put on 20 sen to RM9.92.On the broader market, investors were seen picking up the sold-down technology stocks even as they poured into laggard sectors, which included financials and consumer stocks.Analysts have remained positive on the tech sector even as a sharp correction in recent days aroused fears that a bubble, fuelled by months of investor interest, had burst.However, the 3.7% rebound on the Nasdaq overnight eased these concerns, sending global tech on the rise once again. Bursa Malaysia's technology index gained 2% as at midday.In Asian markets, easing bond yields slowed the descent in equities after a fierce sell-down to two-month lows.Japan's Nikkei was flat while South Korea's Kospi dipped 0.4%.China's composite index gained 0.7% amid easing fears of policy tightening and Hong Kong's Hang Seng rose 0.45%.Australia's ASX200 was down 0.4%.
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