KUALA LUMPUR (July 3): The FBM KLCI edged up in early trade this morning in in line with the recovery at most regional markets.

At 9.05am, the FBM KLCI gained 1.94 points to 1,689.99.

The early gainers included Hong Leong Financial Group Bhd, Malaysia Airports Holdings Bhd, Top Glove Corp Bhd, IHH Healthcare Bhd, Versatile Creative Bhd, Genting Bhd, Aeon Co (M) Bhd, Apex Healthcare Bhd, Supermax Corp Bhd and United Plantations Bhd.

Stocks in Japan, South Korea and Australia recouped some of yesterday’s declines as investors continue to weigh the impact of potential global trade restrictions on economic growth. The dollar held on to gains, while Chinese assets remain in focus following another battering for stocks, according to Bloomberg.

Share indexes in Tokyo, Sydney and Seoul climbed. Hong Kong returns after Monday’s holiday when pronounced moves lower were seen across Asian equity markets. In the U.S., the S&P 500 Index recovered its early losses to end the day higher as technology shares rose. Treasuries were steady, alongside gold and the yen, it said.

JF Apex Securities Research in a market preview said US markets ended higher overnight amid gains in technology counters and lingering concerns on trade war.

It said that earlier, European stocks declined as the EU threatened to impose tariffs worth US$300b if the US proceeds with penalties on European cars.

“On the local bourse, the FBM KLCI lost 6.45 points to 1685.05 points.

“Following the uncertainty on trade war, the FBM KLCI could remain pressured and trend lower towards the support of 1665 points,” it said.