KUALA LUMPUR (Oct 7): The FBM KLCI dipped in early trade today as select blue chip stocks slipped.

At 9am, the FBM KLCI fell 4.05 points to 1,658.46.

The top losers included Britis American Tobacco (M) Bhd, Petronas Gas Bhd, Kuala Lumpur Kepong Bhd, Genting Plantations Bhd, Lafarge Malaysia Bhd, Time Dotcom Bhd, Malaysia Airports Holdings Bhd, Pharmaniaga Holdings Bhd, Telekom Malaysia Bhd and IOI Corporation Bhd.

Asian stocks held firm on Wednesday as a sharp rebound in oil prices supported battered resource shares and emerging economy currencies, while Japanese markets were tentative ahead of a crucial Bank of Japan policy meeting, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.2 percent, led by a 0.4 percent rise in South Korea. Japan's Nikkei was almost flat ahead of the Bank of Japan policy announcement later in the day, it said.

JF Apex Securities Research in a market preview today said US markets were mixed as the bulls took a breather with investors looking our for this month's reporting season.

Meanwhile, it said European stocks rallied after oil prices climbed above US$50 per barrel and gains in miners and auto companies.

“On the local bourse, the FBM KLCI gained 14.92 points to 1662.51 points.

“Following the mixed performance in the US, we expect the FBM KLCI to consolidate below the resistance of 1670 points,” it said.