KUALA LUMPUR (July 19): The FBM KLCI rose in early trade, lifted by select index-linked blue chips against the backfrop od mixed regional markets.

At 9.05am, the FBM KLCI rose 3.30 points to 1,756.37.

The early gainers incuded Fraser & Neave Holdings Bhd, Kossan Rubber Industries Bhd, British American Tobacco (M) Bhd, Lii Hen Industries Bhd, PPB Group Bhd, Malayan Banking Bhd, Malaysia Airports Holdings Bhd, Hengyuan Refining Company Bhd, Revenue Group Bhd and Eupe Corp Bhd.

Asian stocks opened mixed as investors weighed bank earnings that pushed U.S. equities higher and Federal Reserve Chairman Jerome Powell’s comments that did little to alter expectations for another interest rate increase in September, according to Bloomberg.

Equity indexes swung between gains and losses in Japan, while they were barely higher in Australia and South Korea. Futures pointed to a stronger start for Hong Kong. Gains in U.S. financials, spurred by results at Morgan Stanley, pushed the S&P 500 Index to within 2 percent of its all-time high. The 10-year Treasury yield ticked higher and the dollar pared gains, it said.

JF Apex Securities Research in a market preview said US markets ended mixed overnight amid quarterly results and housing data missed expectation.

It said that earlier, European stocks climbed following encouraging corporate earnings.

“On the local market, the FBM KLCI surged 15.79 points to 1753.07 points to extend its ascend.

“After the recent rebound, the FBM KLCI could take a breather and consolidate around the 1750-point level before resuming its uptrend,” it said.