KUALA LUMPUR (Oct 7): The FBM KLCI ticked higher in early trade this morning in line with the uptrend at regional markets, but gains were seen capped.

At 9.05am the FBM KLCI added 0.73 points to 1,558.40.

The early gainers included Malaysian Pacific Industries Bhd, Unisem (M) Bhd, Magni-Tech Industries Bhd, Pentamaster Corp Bhd, BIMB Holdings Bhd, G3 Global Bhd, Guan Chong Bhd, Tong Herr Resources Bhd and Mi Equipment Bhd.

Asian shares edged higher on Monday after data showed the U.S. unemployment rate dropped to the lowest in almost 50 years, easing concerns of a slowdown in the world's largest economy, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.25%. Japan's Nikkei stock index rose 0.29%, while Australian shares were up 0.48%, it said.

CGS-CIMB Retail Research said As widely expected, October has historically been the most volatile month for stock markets globally and Malaysia is not likely to be spared.

The research house said on the back of the weak US manufacturing activity sparking fears of a global economic recession, the FBMKLCI slumped about 26pts week-on-week.

“Last week’s plunge in KLCI recorded a new 4-year low (a level not seen since Aug 26, 2015) and also triggered a MACD dead cross formation, which would likely confirm that the next leg down to test 1,436, the 200-month EMA (see monthly chart) next.

“Nevertheless, given the positive cues from Wall Street on Friday, the index may stage a relief rebound today with an immediate resistance seen at 1,572. Resistance: 1,572 & 1,580. Support: 1,540 & 1,500," it said.