KUALA LUMPUR (Nov 8): The FBM KLCI edged up in early trade this morning to extend its gains in line with regional markets.

At 9.05am, the FBM KLCI added 0.42 points to 1,609.75.

The early gainers included British American Tobacco (M) Bhd, Vstecs Bhd, Boustead Heavy Industries Corp Bhd, Genting Bhd, Guan Chong Bhd, Syarikat Takaful Malaysia Keluarga Bhd, Pentamaster Corp Bhd, UWC Bhd. DiGi.Com Bhd and IHH Healthcare Bhd.

Reuters reported that world stocks rallied to near record highs on Friday after China said it had agreed with the United States to cancel tariffs in phases, a key demand of Beijing for sealing a deal to end a trade war that has slowed economic growth and roiled markets.

MSCI's gauge of stocks across the globe rose slightly to stand at 543.70, just a hair off the record high of 550.63 reached in January 2018, it said.

CGS-CIMB Retail Research said the FBMKLCI index closed 6.08 points higher yesterday after China’s Commerce Ministry said Thursday that Beijing had agreed with Washington to lift existing trade tariffs between the two nations in phases.

“The optimism over the US-China trade deal could potentially lift local market sentiment.

“Coupled with the US stock market up big overnight, both KLCI and Bursa ACE index are likely to trade higher today. Resistance: 1,620 & 1,637. Support: 1,600 & 1,577,” it said.