KUALA LUMPUR (March 16): The FBM KLCI edged lower in early trade today against the backdrop of mixed regional markets, while Ranhill Holdings Bhd fell in active trade upon its listing on Bursa Malaysia.

At 9am, the FBM KLCI shed 0.1 points to 1,690.82.

The top losers included PPB Group Bhd, UEM Edgenta Bhd, Petronas Gas Bhd, Sime Darby Bhd, Public Bank Bhd, Petron Malaysia Refining & Marketing Bhd, Berjaya Sports Toto Bhd and Ranhill.

Ranhill fell 9 sen to RM1.11 with 1.33 million shares done.

Asian shares were mixed on Wednesday while the dollar dithered as markets waited anxiously for the Federal Reserve to provide guidance on the risk of US rate hikes this year, according to Reuters.

While no move is expected at this meeting it does include updates of Fed members' economic projections and a news conference with Chair Janet Yellen, events that have caused violent market reactions in the past, it said.

JF Apex Securities Research in a market preview today said US markets ended lower overnight due to losses in healthcare stocks and investors awaiting the outcome of the Federal Reserve meeting later today.

It said that similarly, European stocks dropped following lower oil prices and decline in mining counters.

“On the local market, the FBM KLCI lost 9.39 points to 1,690.92 points.

“Following the negative performance in Wall Street, the FBM KLCI is expected to remain lackluster, trending below the resistance level of 1,710 points but maintain above the support of 1,650 points,” it said.