KUALA LUMPUR (Jan 17): The FBM KLCI extended its consolidation and retreated in early trade this morning in line with regional markets, dragged by losses at select blue chips.

At 9.05am, the FBM KLCI fell 3.05 points to 1,822.98.

The early losers included Carlsberg Brewery Malaysia Bhd, Hengyuan refining Company Bhd, AMMB Holdings Bhd, Genting Plantations Bhd, Axiata Group Bhd, Sime Darby Plantation Bhd, Malaysia Airports Holdings Bhd, Syarikat Takaful Malaysia Bhd and Padini Holdings Bhd.

Asian stocks stepped back from a record high on Wednesday as the region's resource shares were dented by falling oil and commodity prices while digital currencies tumbled on worries about tighter regulations, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.1 percent from its record high as resource shares declined after oil and other commodities succumbed to profit-taking after recent gains, it said.

JF Apex Securities Research in a market preview said US markets ended lower after surrendering intraday gains following concerns of a government shutdown.

It said that earlier, European stocks ended slightly higher after strong corporate earnings.

“On the local market, the FBM KLCI recovered from intraday losses to close flat with 0.12 points higher at 1826.03 points.

“Following the pullback from last month's rally, the index is expected to consolidate and hover sideways above the support of 1800 points,” it said.