KUALA LUMPUR (June 22): The FBM KLCI ticked higher in early trade Monday against the backdrop of muted regional markets, as glove makers led the gainers on the back of new coronavirus cases reported in China, Europe and the Americas.

At 9.15am, the added 1.00 point to 1,506.28.

The early gainers included Top Glove Corp Bhd, United Plantations Bhd, Supermax Corp Bhd, Hartalega Holdings Bhd, Kumpulan Powernet Bhd, JF Technology Bhd, Comfort Gloves Bhd, Rubberex Corp Bhd, IHH Healthcare Bdh and Telekom Malaysia Bhd.

Bloomberg said Asian stocks kicked off the week with modest losses as investors mulled the impact of coronavirus outbreaks in countries from the U.S. to Australia, though U.S. futures recouped much of an early decline.

JF Apex Securities Research said US markets ended mixed on Friday amid easing concerns over US-China trade and new coronavirus cases.

It said that earlier, European stocks advanced after UK retail sales declined lower than expected.

“On the local market, the FBM KLCI was flat after adding 2.35 points to 1507.26 points.

“Following the mixed performances in the US and Europe, the FBM KLCI is expected to remain sideways with support at 1490 points,” it said.