KUALA LUMPUR (March 29): The FBM KLCI rose 0.46% in early trade on the final trading day of the first quarter of 2019, tracking regional gains.

At 9.05am, the FBM KLCI rose 7.55 points to 1,648.88.

The gainers included Nestle (M) Bhd, Carlsberg Brewery Malaysia Bhd, Fraser & Neave Holdings Bhd, Petronas Dagangan Bhd, British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, MISC Bhd, Petronas Gas Bhd. United Plantations Bhd and Tenaga Nasional Bhd.

Asian shares posted narrow gains on Friday on revived hopes of progress in U.S.-China trade talks, while global bond yields moved higher after a prolonged slide on worries about the economic outlook, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent while Japan's Nikkei rose 1.0 percent, it said.

Kenanga IB Research said Asian markets ended lower as concerns over a possible economic slowdown loomed after the 10-year treasury yield hit its lowest level since 2017.

It said the FBMKLCI slipped 1.40 points (-0.09%) to close lower at 1,641.33.

“The outlook of the index remains bearish as its 20-and-50 day SMAs crossed below its 100-day SMA.

“However, we do not discount the possibility of a short technical rebound, should the RSI fall into the oversold territory. 

“Should a technical rebound happen, we look towards 1,660 (R1) and 1,700 (R2) as resistance levels. Conversely, support levels can be identified at 1,630 (S1) and 1,615 (S2),” it said.