KUALA LUMPUR (Nov 13): The FBM KLCI got off to a muted start this morning against the backdrop of cautious regional markets.

At 9.05am, the FBM KLCI was up 0.39 points to 1,742.67.

The early gainers included Petronas Dagangan Bhd, Hengyuan Refining Company Bhd, Petron Malaysia Refining & Marketing Bhd, Hartlega Holdings Bhd, Southern Acids (M) Bhd, MISC Bhd, Lotte Chemical Titan Holding Bhd, BIMB Holdings Bhd, Samchem Holdings Bdh and Press Metal Aluminium Holdings Bhd.

Asian shares stepped back in cautious early trade on Monday as investors look to see whether U.S. Republicans can hammer a tax reform deal quickly, while the British pound fell on growing doubts over Prime Minister Theresa May's leadership, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.15 percent while Tokyo's benchmark Nikkei dropped 0.7 percent, it said.

JF Apex Securities Research in a market preview today said US market ended flat on Friday as the Dow and S&P ended an eight-week winning streak following concerns that corporate tax cut could be delayed.

It said that earlier, European stocks declined as investors took profit from the recent corporate earnings season.

“On the local market, the FBM KLCI dropped 4.53 points to 1742.28 points.

“Following the recent lacklustre performance, the FBM KLCI is expected to continue hovering below the resistance of 1750 points in absence of any catalyst,” it said.