KUALA LUMPUR (Nov 29): The FBM KLCI ticked marginally higher in early trade today but is seen to remain under pressure.

At 9.05am, the FBM KLCI was up 1.68 points to 1,716.10.

The early gainers included Dutch Lady Milk Industries Bhd, Tong Herr Resources Bhd, Nestle (M) Bhd, PPB Group Bhd, Petronas Dagangan Bhd, Southern Steel Bhd, Heineken Malaysia Bhd, Texchem Resources Bhd, Tenaga Nasional Bhd and Pentamaster Corp Bhd.

Asian shares rose and the dollar held firm on Wednesday after Wall Street shot to record peaks amid signs of progress on U.S. tax cuts, upbeat economic data and bank-friendly comments from the would-be head of the Federal Reserve, according to Reuters.

There was no obvious market reaction to the latest missile test by North Korea. President Donald Trump said the United States "will take care of" the North Korea issue and the approach to dealing with Pyongyang would not change, it said.

JF Apex Securities Research in a market preview said US markets rallied to all-time highs following the Senate's progress in reforming the US tax code.

It said that similarly, European stocks advanced led by oil and gas and financial counters after investors expect OPEC to extend its production cut and the Bank of England released results of its stress tests.

“On the local market, the FBM KLCI lost 5.44 points to 1714.42 points.

“Following the bearish performance the index is expected to remain pressured towards the support of 1700 points,” it said.