KUALA LUMPUR (April 23): The FBM KLCI edged marginally higher this morning, lifted by select index-linked blue chips.

At 9.05am, the FBM KLCI rose 2.20 points to 1,889.95.

The early gainers included Nestle (M) Bhd, United Plantations Bhd, Top Glove Corp Bhd, Kuala Lumpur Kepong Bhd, PPB Group Bhd, Petron Malaysia Refining & Marketing Bhd, British American Tobacco (M) Bhd, Allianz Malaysia Bhd and Telekom Malaysia Bhd.

Asian stocks started in muted fashion on Monday as investors braced for a bevy of earnings from the world's largest corporations, while keeping a wary eye on U.S. bond yields as they approached peaks that had triggered ructions in the past, according to Reuters.

Markets were also anxiously awaiting surveys on global manufacturing for April to see if economic softness in the first quarter was just a passing phase linked to poor weather and the Lunar New Year holidays, it said.

JF Apex Securities Research in a market preview said US markets tumbled as a decline in Apple pushed the technology counters lower.

It said that meanwhile, European stocks ended mixed as investors digested a fresh batch of corporate earnings.

“On the local market, the FBM KLCI lost 7.43 points to end at 1887.75 points on the back of profit taking after the benchmark index hitting record high.

“Following the lackluster performance in the US and Europe, the FBM KLCI could trend sideways and consolidate below its immediate resistance level of 1900 points,” it said.