KUALA LUMPUR (Aug 3): The FBM KLCI fell in early trade today as profit taking on select blue chips weighed the local market down.

At 9.01am, the FBM KLCI fell 7.05 points to 1,716.09.

The top losers included British American Tobacco (M) Bhd, Petronas Gas Bhd, Petronas Dagangan Bhd, Genting Plantations Bhd, Petronas Chemicals Group Bhd, Malaysia Airport Holdings Bdh, Axis REIT, RHB Capital Bhd, UEM Edgenta Bhd and Hong Leong Bank Bhd.

Asian shares took cues from a lower Wall Street and dipped early on Monday, while the dollar was on the defensive against the euro and yen following disappointing U.S. wage growth data that dented prospects for an early interest rate hike by the Federal Reserve, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.2 percent. Japan's Nikkei fell 0.2 percent and South Korea's Kospi lost 0.5 percent, it said.

JF Apex Securities Research in a market preview today said US markets ended lower on Friday after earnings of energy companies missed estimates.

However, it said European equities closed higher following better-than-expected corporate results. Asian markets mostly advanced except China.

“On the local bourse, the FBM KLCI rallied 23.22 points to 1723.14 points.

“We expect profit taking to kick in and the index could consolidate below its resistance of 1740 points,” it said.