KUALA LUMPUR (Feb 11): The FBM KLCI opened higher today before extending gains with Asian shares after US stock indices S&P 500 and Nasdaq rose overnight to record closing highs as China factories gradually returned to business following the Chinese New Year holiday amid caution on the 2019 novel coronavirus (2019-nCoV) outbreak.

At Bursa Malaysia today, the KLCI opened up 2.09 points at 1,544.89 at 9am before rising 2.93 points to 1,545.73 at 9:12am. Bursa top gainers included Hong Leong Financial Group Bhd and MISC Bhd.

"As uncertainties around the global market are high, especially with the new coronavirus outbreak, investors/traders are highly advised to practice extra caution when deploying capital in the near-term,"  Affin Hwang Investment Bank Bhd wrote in a note today.

Overnight in the US, Reuters reported that the S&P 500 and the Nasdaq closed at record highs on Monday as Chinese workers and factories slowly returned to business following the Lunar New Year holiday that was protracted by the deadly coronavirus outbreak.

It was reported that the Dow Jones Industrial Average rose 174.31 points, or 0.6%, to 29,276.82, the S&P 500 gained 24.39 points, or 0.73%, to 3,352.1 and the Nasdaq Composite added 107.88 points, or 1.13%, to 9,628.39.

"The (coronavirus outbreak) death toll in China climbed above 1,000, as the World Health Organization cautioned that the spread of cases outside of China could be "the spark that becomes a bigger fire" and said the human race must not let the epidemic get out of control. Hubei province, the epicentre of the outbreak, reported 103 deaths on Monday - the most in any single day - after 91 deaths on Sunday. But the 2,097 new cases was down from the previous day, when there were 2,618," Reuters reported.