KUALA LUMPUR (Dec 27): The FBM KLCI drifted lower in early trade Friday while regional markets traded mixed, as Petronas-linked stocks and Tenaga Nasional Bhd retreated.

At 9.05am, the FBM KLCI was down 2.85 points to 1,600.70.

The losers included Nestle (M) Bhd, Kuala Lumpur Kepong Bhd, Hong Leong Financial Group Bhd, PPB Group Bhd, Petronas Dagangan Bhd, Petronas Gas Bhd, Hap Seng Consolidated Bhd, Tenaga Nasional Bhd and QL Resources Bhd.

Bloomberg said Asian stocks looked set to open higher Friday after technology shares propelled U.S. benchmarks to fresh record highs.

The Nasdaq Composite Index closed above 9,000 for the first time, and Amazon.com Inc. was the top performer in the S&P 500 after the e-commerce giant reported a “record breaking” holiday season. The dollar drifted lower, while Treasuries were little changed on Thursday. Japanese stock futures gained, while South Korean ones were little changed early Friday. Japan’s yen was near the lowest level since May, it said.

JF Apex Securities Research said US markets rose to record highs overnight as the year-end rally continues amid lower jobless claims.

It said European stocks also advanced to all-time highs, riding on the positive sentiment from the US-China trade deal.

“On the local market, the FBM KLCI was flat after shedding 0.68 points to 1603.55 points.

“Following the bullish sentiment in global markets, the FBM KLCI could climb towards its resistance of 1620 points,’ it said.