KUALA LUMPUR (Dec 31): The FBM KLCI dipped 0.32% in early trade this morning, tracking the overnight fall at Wall Street, dragged by losses including at Tenaga Nasional Bhd, Public Bank Bhd and Top Glove Corp Bhd.

At 9.05am, the FBM KLCI fell 5.17 points to 1,610.50.

The early decliners included Nestle (M) Bhd, Fraser & Neave Holdings Bhd, Hong Leong Bank Bhd, Tenaga Nasional, PPB Group Bhd, Public Bank, Hap Seng Consolidated Bhd, Petronas Chemicals Group Bhd and Top Glove.

Bloomberg said Asian stocks are set to slip in thin trading on the last day of a year that has delivered spectacular returns across asset classes. The dollar declined.

Equities in Sydney opened lower. Hong Kong futures fell. Several markets including Japan are shut for holidays, while some have shortened trading sessions. U.S. futures were flat after the S&P 500 Index fell the most in more than three weeks amid the countdown to the New Year’s Day holiday Wednesday. It’s still headed for its best year since 2013, it said.

JF Apex Securities Research said US market tumbled overnight following profit taking from record high levels after a strong year-end rally.

It said that similarly, European stocks decline in all sectors except banking.

“On the local market, the FBM KLCI gained 5.06 points to 1615.67 points.

“Window dressing activity could see the FBM KLCI testing the resistance of 1620 points,” it said.