KUALA LUMPUR (July 18): The FBM KLCI dipped in early trade this morning on some mild profit taking while ACE Market debutant Revenue Group Bhd made an impressive start, topping the most actively traded stocks.

At 9.05am, the FBM KLCI was down 5.34 points to 1,731.94.

The early losers included Nestle (M) Bhd, Public Bank Bhd, PPB Group Bhd, Petronas Gas Bhd, MISC Bhd, Hartalega Holdings Bhd, Hengyuan Refining Company Bhd, IHH Healthcare Bhd and MMC Corp Bhd.  

Meanwhile, Revenue Group jumped 15.5 sen to 52.5 sen with 28.15 million shares done.

Asian shares followed Wall Street higher on Wednesday as a bullish outlook from the head of the U.S. central bank buoyed the dollar, lifted Tokyo shares to a one-month top and sent gold to a one-year trough, according to Reuters.

Japan's Nikkei leapt out of the blocks with a 1 percent gain as a weakening yen promised to fatten exporters' profits, it said.

JF Apex Securities Research in a market preview said US markets rose overnight with Nasdaq hitting a record high following gain in technology counters.

It said that earlier, European stocks advanced on corporate earnings and hawkish remarks by US Federal Reserve chairman Jerome Powell.

“On the local market, the FBM KLCI continued its ascend after climbing 10.61 points to 1737.28 points.

“Following the bullish performance in the US and Europe, the FBM KLCI could extend its rebound towards the resistance of 1750 points,” it said.