KUALA LUMPUR (May 24): The FBM KLCI rose in early trade Thursday after the heavy selldown a day earlier and was up 0.15% amid some mild bargain hugnting activity.

At 9.05am, the FBM KLCI rose 2.78 points to 1,807.03.

The early gainers included Hong Leong Bank Bhd, Malaysian Pacific Industries Bdh, Apex Healthcare Bhd, Petron Malaysia Refining & Marketing Bhd, Dialog Group Bhd, Top Glove Corp Bhd, United Plantations Bhd, Hong Leong Industries Bhd, Hengyuan Refining Co Bhd and CIMB Group Holdings Bhd.

Asian shares moved lower on Thursday as investors fretted about new setbacks in U.S.-China trade talks, but negative sentiment was tempered by U.S. Federal Reserve meeting minutes suggesting it would not raise the tempo at which it increases interest rates, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was flat, while Japan's Nikkei stock index was 0.6 percent lower, it said.

JF Apex Securities Research in a market preview said US markets reversed intraday losses after Federal Reserve's minutes of meeting revealed willingness to allow inflation to run above its target.

It said that earlier, European stocks plunged following political uncertainty in Italy and concern on US-China trade talks.

“On the local market, the FBM KLCI plunged 40.78 points to 1804.25 points on foreign selling.

“Following yesterday's selldown, the FBM KLCI could take a breather and consolidate above the psychological support at 1800 points,” it said.