29/06/2012 (Bernama) - Share prices on Bursa Malaysia rebounded to trade higher this morning with finance and palm-oil related counters lending support.

At 9.20am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 5.7 points higher at 1,599.94 after opening 0.20 of a point better at 1,594.53.

Hwang DBS Vickers Research said riding on hopes that European leaders were close to coming out with plans to keep in check the eurozone's debt contagion risk, Wall Street pared earlier losses to finish marginally weaker by between 0.2 per cent and 0.9 per cent last night.

Meanwhile, as investors wait for more details to emerge from the European Council Summit, the key FBM KLCI may remain range bound with a slight positive bias.

"Nevertheless, the benchmark index could struggle to overcome the 1,600 psychological level for the time being," it said in a research note.

The Plantation Index gained 20.75 points to 8,454.64, the Finance Index increased 49.49 points to 14,264.33 and the Industrial Index added 10.95 points to 2,841.08.

The FBM Emas Index gained 36.53 points to 10,917.5, the FBM Mid 70 Index advanced 36.53 points to 10,917.5 and the FBM Ace Index was 21.56 points higher at 4,327.93.

Advancers led decliners 142 to 81 while 133 counters were unchanged, 1,216 untraded and 33 others were suspended.

Turnover stood at 94.087 million shares worth RM53.223 million.

Among actives, Flonic Hi-Tech-WA and Ingenuity Solutions each added one sen to 7.5 sen and 11 sen, respectively, while MBF Holdings-WA earned 2.5 sen to 18.5 sen.

Heavyweights, Maybank rose four sen to RM8.73, Sime Darby added three sen to RM9.91, CIMB was flat at RM7.57 and Petronas Chemicals perked two sen to RM6.49.