KUALA LUMPUR (July 27): The FBM KLCI retreated in early trade this morning, tracking struggling regional markets.

At 9.05am, the FBM KLCI shed 3.56 points to 1,762.67.

The early decliners included Riverview Rubber Estates Bhd, MSM Malaysia Holdings Bhd, Tenaga Nasional Bhd, IHH Healthcare Bhd, Cahya Mata Sarawak Bhd, CIMB Group Holdings Bhd, DiGi.Com Bhd, Sime Darby Plantations Bhd and Maxis Bhd.

Asian stocks struggled to gain traction on Friday, following a mixed end to Wall Street trade and as the worsening Sino-U.S. trade dispute kept investors in the region cautious, despite signs of rapprochement between the United States and Europe, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was little changed in early trade, it said.

JF Apex Securities Research in a market preview said US markets ended mixed with the Nasdaq Composite dropped 1 percent, led by a steep decline in Facebook shares, whilst the DJIA rose 0.44 percent amid gains in 3M, Boeing and Travelers Companies. 

It said that meanwhile, European stocks closed higher after President Trump agreed to put tariffs on Europe aside and the ECB decided to keep interest rate on hold.

“On the local market, the FBM KLCI gained 2.45 points to close at 1766.23 points yesterday.

“Following the mixed performance in the US markets, the local benchmark index could hover sideways with its support level of 1750 points,” it said.