KUALA LUMPUR (Dec 29): The FBM KLCI opened higher today, lifted by select blue chips to stay above the 1,670-point level against the backdrop of subdued regional markets.

At 9am, the FBM KLCI rose 4.16 points to 1,674.89 points.

The early gainers included Selangor Properties Bhd, British American Tobacco (M) Bhd, Tenaga Nasional Bhd, SMIS Corporation Bhd, Petron Malaysia Refining & Marketing Bhd, Genting Bhd, Mudajaya Group Bhd, Petronas Chemicals Group Bhd and Only World Group Holdings Bhd.

Asian stocks were subdued on Tuesday, with Japanese and South Korean equities slipping, after crude oil prices resumed their slide and cooled investor sentiment, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan were effectively unchanged, and looked set for a loss of around 12% for the year, it said.

JF Apex Securities Research in a market preview today said US stocks closed lower in a thin trade yesterday as energy stocks weigh on the market as a result of renewed concern on slide in oil prices.

Similarly, it said the European markets ended lower as oil price fell.

"On the local market, the FBM KLCI gained 7.22 points to 1,670.73 points.

"The local benchmark index is expected to face some selling pressure in line with weak performance posted by overseas bourses with our resistance levels of 1,670 and 1,690 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.)