KUALA LUMPUR (March 6): The FBM KLCI rebounded in early trade this morning in line with its regional peers, while steel-related counters recovered as well following the selloff on Monday.

At 9.05am, the FBM KLCI rose 6.23 points to 1,848.85.

The gainers included Hengyuan Refining Company Bhd, Nestle (M) Bhd, Petron Malaysia Refining & Marketing Bhd, Petronas Gas Bhd, Press Metal Aluminium Holdings Bhd, Hartalega Holdings Bhd, Hong Leong Financial Group Bhd, British American Tobacco (M) Bhd, Ann Joo Resources Bhd and Southern Steel Bhd.

Asian share regained some ground on Tuesday after U.S. President Donald Trump faced growing pressure from political allies to pull back from proposed steel and aluminium tariffs, easing investor worries about an imminent trade war, according to Reuters.

The impact of Italy's inconclusive election results was limited to a mild sell-off in Italian bonds and stocks, with the euro gaining support from the creation of a coalition government in Germany, it said.

JF Apex Securities Research in a market preview said US markets rallied overnight as concerns of a trade war eased after President Trump's comments on NAFTA.

It said similarly, European stocks advanced as investors brushed off political concerns on Italy's election.

“On the local market, the FBM KLCI plunged 13.45 points to 1842.62 points.

“Following the bullish performance in the US and Europe, the FBM KLCI could stage a rebound after bouncing off the support of 1840 points,” it said.