KUALA LUMPUR (March 18): The FBM KLCI extended its gains in early trade and stayed above the 1,700-point level, lifted by key blue chips, in line with the advance at most regional markets.

At 9.01am, the FBM KLCI rose 5.2 points to 1,708.39.

The top gainers included Petronas Gas Bhd, Fraser & Neave Holdings Bhd, Petronas Dagangan Bhd, Petron Malaysia Refining & Marketing Bhd, Lafarge Malaysia Bhd, Kuala Lumpur Kepong Bhd, PPB Group Bhd, Hong Leong Bank Bhd, BIMB Holdings Bhd, Guinness Anchor Bhd and Malayan Banking Bhd.

Asian shares edged higher on Friday, turning positive for the year, while the US dollar weakened broadly after the Federal Reserve's cautious stance on further rate increases prompted investors to rebuild their bets on riskier assets.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6% in early trade, entering positive territory for the year for the first time during Asian hours.

US markets climbed overnight, led by material, industrial and transport counters following higher oil prices and the Federal Reserve's announcement a day earlier. Meanwhile, European stocks ended slightly lower despite a rally in mining stocks and the Federal Reserve indicating less rate hike this year.

On the local market, the FBM KLCI surged 9.76 points to 1,703.19 points. Following the positive performance in the US coupled with higher oil prices, the FBM KLCI could retest its resistance of 1,710 points today.