KUALA LUMPUR (Dec 15): The FBM KLCI edged higher in early trade today as bargain hunting activities pushed the index upward while regional markets steadied.

At 9am, the FBM KLCI gained 1.14 points to 1,631.10.

The top gainers included British American Tobacco (M) Bhd, Petronas Gas Bhd, Petronas Dagangan Bhd, Top Glove Corporation Bhd, Petronas Chemicals Group Bhd, MISC Bhd, Westports Holdings Bhd, Karex Bhd and Tenaga Nasional Bhd.

Asian shares steadied in cautious early trade on Tuesday as investors were reluctant to make any big moves amid volatile crude oil and before a widely anticipated US interest rate increase by the Federal Reserve (Fed) later this week, according to Reuters.

Markets were also focused on whether the People's Bank of China would continue to guide its currency lower, with traders wary about the central bank's intentions after it set the yuan/dollar official midpoint at 4½-year lows in recent session, it said.

JF Apex Securities Research in a market preview today said US equities closed higher to end a six-day losing streak as oil prices regained some ground.

It said that earlier, European markets plunged on lower oil prices and concern on US Fed's meeting tomorrow over interest rate.

"On the local exchange, the FBM KLCI lost 10.18 points to 1,629.96 points to extend its selldown.

"Following the rebound in Wall Street, we expect the FBM KLCI to consolidate below the resistance of 1,645 points," it said.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)