KUALA LUMPUR (July 18): The FBM KLCI opened lower this morning as investors appeared to take some profit after the firm rally at the local market last week.

At 9am, the FBM KLCI fell 3.48 points to 1,664.92.

The top losers included Dutch Lady Milk Industries Bhd, Malaysia Airports Holdings Bhd, Genting Plantations Bhd, Petronas Gas Bhd, Lafarge Malaysia Bhd, Hong Leong Financial Group Bhd, PPB Group Bhd, Tenaga Nasional Bhd and MISC Bhd.

The U.S. dollar gained on the yen in Asia on Monday as investors unwound safe-haven trades in the wake of the failed coup in Turkey, while better U.S. economic news and the promise of central bank stimulus lent support to equities, according to Reuters.

The Turkish lira was quoted around 2.9675 after the dollar climbed almost 5 percent late Friday to a six-month peak around 3.0476. Dealers noted liquidity was sparse and a true price would only be found once Turkish markets opened, it said.

JF Apex Securities Research in a market preview today said global markets were under pressure due to geopolitical issues as US stocks ended mixed after an attempted military coup in Turkey.

It said that earlier, European equities declined following a terror attack in Nice, France.

“On the local market, the FBM KLCI jumped 13.62 points to 1668.40 points.

“Following the bearish sentiment in global markets, investors could take profit from last week's surge and trade below the resistance of 1670 points,” it said.