KUALA LUMPUR (Dec 5): The FBM KLCI edged up in early trade today, lifted by select blue chips.

At 9.05am, the FBM KLCI rose 1.69 points to 1,630.65.

The early gainers included Panasonic Malaysia Manufacturing Bhd, Petronas Gas Bhd, Maxis Bhd, Nestle (M) Bhd, JHM Consolidation Bhd, Sime Darby Bhd, Magna Prima Bhd and Mudajaya Group Bhd.

The euro sank to 20-months lows in Asia on Monday after Italian Prime Minister Matteo Renzi said he would resign in the wake of a stinging defeat on constitutional reform that could destabilise the country's shaky banking system, according to Reuters.

The single currency dived as far as $1.0505 in thin trade, after starting around $1.0645 earlier. It was the sharpest fall since June and opened the way to a retest of the March 2015 trough around $1.0457, it said.

JF Apex Securities Research in a market preview today said US markets were flat on Friday after financial counters tumbled ahead of Italy's referendum.

It said that earlier, European stocks declined following political uncertainties in Italy and France.

“On the local market, the FBM KLCI gained 2.52 points to 1628.96 points.

“Following the uncertainty in the US and Europe, the FBM KLCI could remain sideways above the support of 1,610 points,” it said.