KUALA LUMPUR (April 19): The FBM KLCI rose 0.35% in early trade this morning and looked poised to breach the 1,890-point level in line with teh gains at regional markets.

At 9.05am, the FBM KLCI was up 6.56 points to 1,885.88.

The early gainers included Kuala Lumpur Kepong Bhd, Allianz Malaysia Bhd, Petronas Dagangan Bhd, Petronas Gas Bhd, Fraser & Neave Holdings Bhd, Petronas Chemicals Group Bhd, Press Metal Aluminium Holdings Bhd and Nestle (M) Bhd.

Resource stocks were on a roll in Asia on Thursday as oil prices hit heights not seen since late 2014, though the potential boost to inflation globally also pressured fixed-income assets, according to Reuters.

Brent crude futures climbed another 34 cents in early trade to $73.82 a barrel, adding to a 2.7 percent jump overnight. U.S. crude gained 30 cents to $68.77, it said.

JF Apex Securities Research in a market preview said US markets ended mixed overnight with the S&P and Nasdaq climbing on strong quarterly earnings while the Dow slipped.

It said that earlier, European stocks advanced as sentiment was lifted by higher commodities and basic resources counters.

“On the local market, the FBM KLCI ended 1.17 points lower at 1879.32 points after recovering from an intraday low of 1873.11 points.

“Following the mixed performance in the US and Europe, the FBM KLCI could trend sideways below the resistance of 1880 points,” it said.