KUALA LUMPUR (Jan 17): The FBM KLCI edged up in early trade this morning on some mild bargain hunting, while MCA-linked Matang Bhd made a positive start on the ACE Market of Bursa Malaysia.

At 9.05am, the FBM KLCI rose 1.50 points to 1,660.34.

The early gainers included PPB Group Bhd, Tawin Holdings Bhd, Only World Group Bhd, Magni-Tech Industries Bhd, Weida (M) Bhd, Malayan Banking Bhd, Melati Ehsan Holdings Bhd, Scientex Bhd, Petronas Chemicals Group Bhd and CIMB Group Holdings Bhd.

Asian stocks and the pound sagged on Tuesday ahead of a speech by British Prime Minister Theresa May that could have implications for broader risk sentiment, according to Reuters.

Media have reported that May, due to speak later on Tuesday, will lay out plan to exit the European Union that would see Britain lose access to the bloc's single market, it said.

JF Apex Securities Research in a market preview today said European stocks ended lower overnight led by banking, automotive and retail counters as investors wait for details on Brexit.

US markets were closed for Martin Luther King Day.

“On the local market, the FBM KLCI plunged 13.66 points to 1658.84 points on foreign selling.

“Following the bearish momentum, the index could test its support of 1,645 points today,” it said.