KUALA LUMPUR (Sept 1): The FBM KLCI edged up in early trade today but gains were not seen sustainable against tehe backdrop of weaker manufacturing data and the dip at most regional markets.

At 9.02am, the FBM KLCI gained 2.43 points to 1,680.49.

The early gainers included British American Tobacco (M) Bhd, YNG Property Holdings Bhd, Public Bank Bhd, UMW Holdings Bhd, Padini Holdings Bhd, Tenaga Nasional Bhd and Hong Leong Bank Bhd.

Manufacturing conditions in Malaysia deteriorated at a sharper pace in August, after having slowed in July, according to the latest Nikkei Malaysia Manufacturing Purchasing Managers’ Index (PMI).

Meanwhile, Asian shares dipped on Thursday after lower crude oil prices dented Wall Street, as markets waited to see if U.S. employment data could put the Federal Reserve on track to hike interest rates, according to Reuters.

Crude oil futures steadied after skidding on data showing a large surprise weekly build in U.S. crude and distillate stockpiles and a smaller-than-expected drawdown in gasoline, it said.

JF Apex Securities Research in a market preview today said US markets declined overnight led by energy counters after oil prices dropped.

It said that similarly, European stocks ended lower after unchanged inflation and employment data in the region.

“On the local market, the FBM KLCI lost 3.54 points to 1678.06 points.

“Following the negative performance in the US and Europe, the FBM KLCI could test its support at 1675 points today,” it said.