KUALA LUMPUR (Sept 29): The FBM KLCI got off to a muted start on the final trading day of the third quarter of 2017, and looked poised to close September on a flattish note.

At 9.07am, the FBM KLCI was up 0.07 points to 1,758.13.

The early gainers included Genting Plantations Bhd, Hong Leong Financial Group Bhd, Carlsberg Brewery Malaysia Bhd, Kim Loong Resources Bhd, Petronas Dagangan Bhd, Southern Acids (M) Bhd, Hong Leong Bank Bhd, Telekom Malaysia Bhd, British American Tobacco (M) Bhd and Scientex Bhd.

Asian shares tried to regain some poise on Friday after a tough week in which the gathering risk of a U.S. rate rise lifted Treasury yields toward nine-year highs and boosted borrowing costs across the region, according to Reuters.

Activity seemed mainly confined to book-squaring for the end of the month and quarter, and moves in markets were modest at best, it said.

Hong Leong IB Research in a traders’ brief this morning said in the US, the stock markets could still trend gradually higher until the release of the full details on corporate tax reform framework.

“However, with the rich valuations on US stocks, upside is likely to be capped and the Dow's next resistance is located near 22,500-22,800.

“Meanwhile, based on the market participation statistics, foreign funds remain as net seller for the seventh consecutive days.

“Hence, we think the trading sentiments on the local front are likely to stay negative with the upside to be capped along 1,765-1,770 as investors may look for selling-into-strength opportunity over the near term,” it said.