Malaysian equities rallied strongly this morning, mirroring positive sentiment across global markets after US President Trump announced a 90-day suspension on most new tariffs and a reduction in reciprocal tariffs to 10%. The move triggered gains on Wall Street overnight, lifting Asian markets in its wake.

At mid-day close, the FBM KLCI soared 64.41 points or 4.60% to finish at 1465 points, with all 30 major index constituents recording gains. Leading the charge were banking heavyweights CIMB and Maybank.

The broader FTSE Malaysia All-Share Index closed at 10,851.03 points, up by 507.25 points. Market breadth was overwhelmingly positive, with 989 gainers outpacing 168 decliners. A total of 261 counters were unchanged, while 950 saw no trades.

Trading volume for the half-day session stood at 2.85 billion shares, with a total transaction value of RM2.14 billion. Meanwhile, the ringgit was quoted at 4.4755 against the US dollar as of 12:30 noon.