KUALA LUMPUR (Nov 27): The FBM KLCI edged up in early trade this morning in line with the advance at most regional markets, but gains are seen capped given the prevailing bearish tone at the local bourse.

At 9.05am, the FBM KLCI was up 0.52 points to 1,717.75.

The early gainers included Nestle (M) Bhd, Petronas Dagangan Bhd, Malaysia Airports Holdings Bhd, Lii Hen Industries Bhd, ViTrox Corp Bhd, Unimech Group Bhd, Choo Bee Metal Industries Bhd, Hartalega Holdings Bhd, Hong Leong Financial Group Bhd and Uchi Technologies Bhd.

Asian stocks hovered near a decade high on Monday as a robust business outlook continued to support investor risk appetite, while the euro reached a two-month top against the dollar, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan swerved in and out of the red and was last a shade lower at 567.94, still in striking distance of a 10-year peak of 570.21 scaled on Thursday, it said.

JF Apex Securities Research in a market preview said US markets advanced on Friday with indices nearing record highs following investors’ optimism on strong retail sales during the holiday season.

It said European stocks ended mixed due to political uncertainties in Ireland and Germany.

“On the local market, the FBM KLCI lost 4.04 points to 1717.23 points.

“Following the bearish momentum, the FBM KLCI is expected to remain negative and trend lower towards the support of 1700 points,” it said.