KUALA LUMPUR (Jan 31): The FBM KLCI rose 0.59% in early trade this morning, tracking the gains at the regional markets, lifted by index-linked blue chips.

At 9.05am, the FBM KLCI was up 9.96 points to 1,694.07.

The early gainers included Nestle (M) Bhd, British American Tobacco (M) Bhd, Genting Plantations Bhd, Kuala Lumpur Kepong Bhd, Petronas Chemicals Group Bhd, Fraser & Neave Holdings Bhd, Amway Holdings (M) Bhd, Westports Holdings Bhd, MSM Malaysia Holdings Bhd and Petronas Gas Bhd.

Asia stocks rose to a four-month high on Thursday, tracking Wall Street, after the Federal Reserve pledged to be patient with further interest rate hikes, signalling a potential end to its tightening cycle amid signs of slowing global growth, according to Reuters.

The dollar struggled near a three-week trough against its major peers and U.S. Treasury yields were significantly lower as investors reacted to the Fed's change in tone, it said.

Kenanga IB Research said shares in major Asian market closed mixed as the U.S.-China trade talks put investors on the lookout for further developments.

The research house said our local benchmark index slipped by another 6.30 points (-0.37%) to close at 1,684.11.

“We maintain our neutral outlook on the index as the index is above the 20 and 50-day SMAs but the stochastic indicator is in the overbought zone.

“Should the trade talk turn out favourable, continuous positive momentum may see it trending higher to resistance levels at 1,730 (R1) and 1,800 (R2) next.

“Conversely, support levels can be identified at 1,650 (S1) and 1,600 (S2) further down,” it said.