KUALA LUMPUR (July 26): The FBM KLCI dipped in early trade today in line with the cautious regional markets, as some mild profit taking on index-linked plantation stocks weighed on the local index.

At 9am, the FBM KLCI shed 1.27 points to 1,666.99.

The early losers included Cycle & Carriage Bintang Bhd, Kuala Lumpur Kepong Bhd, Bursa Malaysia Bhd, Genting Bhd, Genting Malaysia Bhd, IOI Corporation Bhd, My E.G. Services Bhd,Malayan Banking Bhd and PPB Group Bhd.

Caution gripped Asian markets on Tuesday, sending the safe-haven yen higher ahead of central bank meetings in the United States and Japan, while a fresh skid in oil dampened energy stocks on Wall Street, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2 percent, consolidating after recently topping out at nine-month highs, it said.

JF Apex Securities Research in a market preview today said US markets ended lower overnight led by energy counters after oil price fell to a three-month low.

It said that earlier, European stocks were mixed as oil price declined below US$45/barrel.

“On the local market, the FBM KLCI rose 10.84 points to 1668.26 points.
“Following the negative performance in the US, the FBM KLCI could decline to day with support at 1610 points,” it said.