KUALA LUMPUR (Sept 19): The FBM KLCI rose 0.47% in early trade today, but gains were seen limited in line with the pensive regional markets.

At 9.02am, the FBM KLCI was up 7.90 points to 1,660.89.

The top gainers included Aeon Credit Services (M) Bhd, Public Bank Bhd, Tenaga Nasional Bhd, Choo Bee Metal Industries Bhd, Magni-Tech Industries Bhd, Hong Leong Bank Bhd, MISC Bhd, CSC Steel Holdings Bhd and OSK Ventures International Bhd.

Caution gripped Asian shares on Monday ahead of central bank meetings in the United States and Japan this week, while oil prices bounced on talk of an OPEC deal on output and reports of fighting around Libyan oil ports, according to Reuters.

Bombings in New York City and New Jersey and a stabbing at a Minnesota shopping mall added to a general air of risk aversion, it said.

JF Apex Securities Research in a market preview today said US markets ended lower on Friday led by financial and energy counters as inflation exceeded expectation.

It said that similarly, European stocks declined after being dragged down by banking counters. 

“On the local market, the FBM KLCI lost 8.40 points to 1652.99 points.
“After last week's negative performance, the FBM KLCI could consolidate above the support of 1650 points.
“Investors will be looking at the outcome of US Federal Reserve meeting this week on any rate hike,” it said.