KUALA LUMPUR (Jan 18): The FBM KLCI edged up cautiously in early trade today, lifted by select blue chips including Genting Bhd and Telekom Malaysia Bhd.

At 9.05am, the FBM KLCI added 2.59  points to 1,665.62.

The early gainers included Hong Leong Bank Bhd, MISC Bhd, Ekovest Bhd, Petronas Chemicals Group Bhd, Taliworks Corporation Bhd, Genting Bhd and Telekom Malaysia.

The British pound consolidated gains on Wednesday after posting its biggest rise in nearly two decades in the previous session, while Asian stocks are set to drift lower following a weak Wall Street, according to Reuters.

Sterling saw its biggest daily rise since at least 1998 on Tuesday as Prime Minister Theresa May promised a parliamentary vote on Britain's deal to leave the EU and sought to draw a line under discussion of a "hard" or "soft" Brexit, it said.

JF Apex Securities Research in a market preview today said that US markets ended negative overnight led by financial counters due to concerns on President-elect Donald Trump's policies.

It said European stocks were also lower after the UK Prime Minister Theresa May's speech with rising concerns on ‘hard’ Brexit.

“On the local market, the FBM KLCI gained 4.19 points to 1663.03 points.

“Following the bearish performance in the US and Europe, the FBM KLCI is expected to remain cautious and hover below the resistance of 1680 points,” it said.