KUALA LUMPUR (Nov 1): The FBM KLCI got off to a muted start to November, as utilities dragged in early trade.

At 9.06am, the FBM KLCI shed 0.51 points to 1,747.41.

The early decliners included KLCC Property Holdings Bhd, Ekovest Bhd, Globetronics Technology Bhd, Sasbadi Holdings Bhd, Petronas Chemicals Group Bhd, Tenaga Nasional Bhd and Telekom Malaysia Bhd.

Asian shares looked set to extend their gains into a fourth straight day on Wednesday on the back of solid economic growth, while oil prices were on a bull run on hopes of an extension of output cuts by major oil producers, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 percent in early trade while Japan's Nikkei gained 1.0 percent, it said.

JF Apex Securities Research in a market preview today said US markets rallied yesterday amid strong close out in October.

It said European stocks also followed upbeat earnings and stimulus boost after investors watched political fallout of Catalonia's independence row as well as digest a fresh batch of corporate earnings.

“On the local market, the FBM KLCI shed 0.43 points to 1747.92 points.

“Following the lackluster performance, the FBM KLCI is expected to consolidate and hover above the support of 1740 points,” it said.