KUALA LUMPUR (Aug 11): The FBM KLCI opened lower this morning despite the higher start at most regional markets, weighed by losses including at index-linked plantation stocks.

At 9.10am, the FBM KLCI was down 3.02 points to 1,651.35.

The top losers in early trade included Petronas Gas Bhd, Genting Plantations Bhd, Kuala Lumpur Kepong Bhd, Hong Leong Bank Bhd, PPB Group Bhd, Carlsberg Brewery (M) Holdings Bhd, IJM Plantations Bhd, Lafarge Malaysia Bhd, Hong Leong Financial Group Bhd and UEM Edgenta Bhd.

Asian stocks swung higher on Tuesday as a periodic revival in investor risk appetite led to a bounce in beaten-down commodities and a small step back for the US dollar, according to Reuters.

Shares in Google jumped over 5%, adding $25 billion to its market value, after announcing a new holding company called Alphabet which will separate the core web advertising business from newer ventures, it said.

JF Apex Securities Research in a market preview today said US equities jumped as the Dow ends a seven-day losing streak following a surge in oil prices and Warren Buffett's acquisition of Precision Castparts lifted investor sentiment.

Similarly, it said European markets gained after reports that Greece might secure a new bailout by today.

“On the local bourse, the FBM KLCI plunged 28.28 points to extend last week's selldown to 1,654.37 points.

“Following the optimism in the US and Europe, we expect the KLCI to rebound and test its resistance of 1,670 points,” it said.