KUALA LUMPUR (March 22): The FBM KLCI edged higher this morning and stayed above the 1,860-point level, lifted by gains at index-linked banking stocks.

At 9.05am, the FBM KLCI was up 1.81 points to 1,867.61.

The top gainers included Nestle (M) Bhd, PPB Group Bhd, Atlan Holdings Bhd, Hengyuan Refining Company Bhd, Hong Leong Bank Bhd, MMS Ventures Bhd, Top Glove Corp Bhd, Public Bank Bhd and Malayan Banking Bhd.

JF Apex Securities Research in a market preview said US markets closed lower overnight after the Federal Reserve raised interest rates by 25 basis points, which is expected by the market.

It said that earlier, European stocks ended mixed as basic resources and oil and gas counters rebounded.

“On the local market, the FBM KLCI rose 9.41 points to 1865.80 points.

“Following the mixed performance in the US and Europe, the FBM KLCI could take a breather from this week's gains and hover below its resistance of 1880 points,” it said.