KUALA LUMPUR (Sept 28): The FBM KLCI edged up in early trade this morning in line with the firmer regional markets, lifted by select blue chips.

At 9.05am, the FBM KLCI edged up 1.54 points to 1,765.78.

The early gainers included Nestle (M) Bhd, Kuala Lumpur Kepong Bhd, Ajinomoto (M) Bhd, KESM Industries Bhd, Sime Darby Bhd, Malaysia Airports Holdings Bhd, Wong Engineering Corp Bhd, Yinson Holdings Bhd, Hong Leong Bank Bhd and Goh Ban Huat Bhd.

Asian shares were firm on Thursday while U.S. bond yields and the dollar held sizable gains made the previous day after President Donald Trump proposed the biggest U.S. tax overhaul in three decades, according to Reuters.

The dollar also drew support from strong U.S. durable goods orders data that cemented expectations the Federal Reserve is on course to raise interest rates for the third time this year in December, it said.

Hong Leong IB Research in a traders’ brief today said with the revival of buying interest in the US stocks, investors are pricing in the next policy by President Trump, where the on-going discussion on the corporate tax reform may push through over the near term.

“We think the policy should be able to enhance the earnings generally among the companies.

“Meanwhile, the overdue rebound could be seen today on our local front after a series of losing streak on the FBM KLCI and the buying support could spillover from the stronger performance on the overnight Wall Street.

“The FBM KLCI may revisit 1,770-1,780,” it said.