KUALA LUMPUR (Nov 18): The FBM KLCI edged higher in early trade today, lifted by Petronas-linked stocks and selecet blue chips.

However, gains are seen limited given the cautious global markets’ sentiment.

At 9.05am, the FBM KLCI was up 2.05 points to 1,663.58.

The early gainers included Dutch Lady Milk Industries Bhd, Malaysian Pacific Industries Bhd, Kuala Lumpur Kepong Bhd, Focus Lumber Bhd, P.I.E. Industrial Bhd, Petronas Gas Bhd, Petronas Dagangan Bhd and Petronas Chemicals Group Bhd.

Asian share markets were cautious on Wednesday as another bomb scare in Europe days after the deadly Paris attacks left investors in a contemplative mood, giving a boost to safe-haven U.S. bonds and the dollar, according to Reuters.

The greenback held firm at seven-month highs against a basket of currencies as U.S. economic data also backed up the case for December interest rate hike, it said.

JF Apex Securities Research in a market preview today said US markets were mixed overnight after lower oil prices on oversupply and geopolitical tension.

It said that earlier, European equities soared following higher auto sales, Greece agreeing with its lenders into financial reforms and deflation in UK.

“On the local market, the FBM KLCI closed 5.53 points higher at 1661.53 points after coming off an intra-day high of 1677.37 points.

“Following the flat performance in Wall Street, we expect the FBM KLCI to be neutral today with support at 1645 points,” it said.