KUALA LUMPUR (March 27): The FBM KLCI rose 2.96 points or 0.2% as index-linked CIMB Group Holdings Bhd share gains helped the KLCI erased earlier losses.

At 9:13am, the KLCI was traded at 1,748.71 points after opening 1.26 points lower at 9am. At 9:13am, CIMB rose nine sen to RM5.71 to become Bursa Malaysia's 10th-largest gainer.

The KLCI had fallen earlier possibly on news that US President Donald Trump did not get enough votes to repeal existing US healthcare laws last Friday. The news led to US equity index futures losses.

The vote has been closely watched as a litmus test for Trump's other policies as investors evaluated whether he will be able to implement his plans for the US economy. Reuters reported S&P 500 e-mini futures were down about 0.5%, shortly after electronic trading resumed on Sunday evening.

In Malaysia today, TA Securities Holdings Bhd wrote in a note that the KLCI could be ripe for profit taking at current levels. 

"While momentum indicators for the FBM KLCI are short-term bearish and point to further correction this week following last week's shallow profit-taking dip, trend indicators stayed in bullish mode, with robust buying momentum on lower liners, small caps and ACE Market stocks driving bullish sentiment on the broader market.

"Moreover, a good possibility for end first-quarter window-dressing action by late week should boost market sentiment and promote further upside momentum ahead," TA said.