KUALA LUMPUR (Nov 15): The FBM KLCI edged lower thuis morning, dragged by losses including at index-linked banking stocks.

At 9.05am, the FBM KLCI dipped 3.21 points to 1,685.20.

The top losers included Daibochi Bhd, Public Bank Bhd, British American Tobacco (M) Bhd, Top Glove Corp Bhd, Malayan Banking Bhd, SP Setia Bhd, Quality Concrete Holdings Bhd, MI Equipment Holdings Bhd, Malaysia Airports Holdings Bhd and IOI Properties Group Bhd.

Asian stocks edged up on Thursday as a steep slide in crude oil prices which had chilled investor sentiment slowed, while the pound and euro were supported after British Prime Minister Theresa May gained cabinet support for a Brexit deal, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.15 percent. The index had declined 0.4 percent the previous day as plunging oil prices heightened anxiety about the outlook for broad demand and global growth, it said.

Hong Leong IB Research in a traders’ brief said the current uncertain trade developments will definitely cap the market upside potential over the near term.

“Should there be any negative surprises in the upcoming G20 summit upon the conclusion of President Trump and President Xi’s discussion, we may expect downside risk on Wall Street.

“Tracking the negative performance on Wall Street, we opine that the selling pressure would surface amongst technology stocks.

“Meanwhile, oil and gas stocks could be due for mild buying support on the back of a technical rebound on Brent oil prices.

“Nevertheless, as we are heading into the peak of the reporting season, market volatility may increase on the broader market; the KLCI’s trading range will be located within 1,673-1,726,” it said.