KUALA LUMPUR (July 12): The FBM KLCI ticked up cautiously in early trade this morning, lifted by select index-linked stocks including MISC Bhd and Top Glove Corp Bhd.

At 9.05am, the FBM KLCI added 2.24 points to 1,681.50.

The early gainers included MISC, Unisem (M) Bhd, Petronas Dagangan Bhd, Elsoft Research Bhd, RHB Bank Bhd, Hengyuan Refining Company Bhd, Top Glove, DiGi.Com Bhd and Cahya Mata Sarawak Bhd.

Stocks in Asia headed for a mixed start Friday as trade-tensions resurfaced and U.S. shares closed at a record. Treasuries tumbled after the latest American inflation reading came in above expectations, according to Bloomberg.

Futures were flat in Tokyo and pointed to declines in Hong Kong and Australia. The S&P 500 eked out a third straight gain after drifting much of the session. A tweet from President Donald Trump, complaining about China trade policy, sent equities into a fleeting swoon and showed how sensitive the market remains to trade-related developments. Yields on 10-year Treasuries hit a one-month high, it said.

CGSCIMB Retail Research said despite the positive performance across global markets after Fed’s Powell signalled rate cuts ahead, the FBMKLCI index remained tepid yesterday.

“However, the broader market breadth was positive with the lower liners dominating the actively traded scene.

“While the index-linked stocks may continue to trade cautiously, lower liners may gain traction from the record close on the Dow overnight.

“From a technical standpoint, lower liners would likely hog the limelight in the following days as the MACD and RSI indicators, which recently broke out of their respective resistance, have given an early positive indication that the Bursa Small Cap index could potentially break out of its reversal ascending triangle formation. Resistance: 1,682 & 1,694. Support: 1,671 & 1,657,” it said.