KUALA LUMPUR (Aug 23): The FBM KLCI fell 0.38% in early trade today, dragged by losses at key blue chips.

At 9.01am, the FBM KLCI fell 6.35 points to 1,684.72.

The early losers included Hong Leong Financial Group Bhd, PPB Group Bhd, Lafarge Malaysia Bhd, Petronas Gas Bhd, Sime Darby Bhd, Kuala Lumpur Kepong Bhd, Petronas Dagangan Bhd, Hong Leong Bank Bhd and Southern Steel Bhd.

Asia shares inched ahead while the dollar slipped on Tuesday as a dearth of major data left markets with little to do but second guess whether the Federal Reserve will raise U.S. interest rates this year, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent, with South Korea and Australia adding similar amounts, it said.

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

It said that similarly, European stocks posted losses due to falling oil prices and mining counters.

“On the local market, the FBM KLCI gained 3.39 points to 1691.07 points.
“Following the overnight bearish performance in the US and Europe, the FBM KLCI could suffer further pressure and remain below the resistance of 1705 points. Immediate support is seen at 1650 points,” it said.