KUALA LUMPUR (March 4): The FBM KLCI ticked up in early trade Wednesday against the back drop of mixed regional markets, lifted by Petronas-linked stocks and CIMB Group Holdings Bhd.

At 9.10am, the FBM KLCI added 1.56 points to 1,480.20.

The early gainers included Petronas Gas Bhd, Petronas Dagangan Bhd, United Plantations Bhd, Hong Leong Financial Group Bhd, Time Dotcom Bhd, MISC Bhd, Hartalega Holdings Bhd, Apollo Food Holdings Bhd and CIMB.

Bloomberg said U.S. stock futures rose after early wins in the Super Tuesday primaries by Joe Biden lessened the chance of the Bernie Sanders nomination that had unsettled some investors.

The yen dipped and Japanese equities recouped early losses. Futures on the S&P 500 were up about 0.8% after the index had tumbled almost 3% in wake of an emergency 50 basis-point Federal Reserve interest-rate cut that had failed to ease concerns about an economic downturn thanks to the coronavirus. Ten-year Treasury yields stayed below 1% after falling below that level for the first time Tuesday, it said.

JF Apex Securities Research said US markets tumbled overnight despite the Federal Reserve's 50-basis-point emergency interest rate cut to mitigate economic impact from the coronavirus.

It said that earlier, European stocks advanced as the Fed's rate cut came earlier than its policy meeting next month.

“On the local market, the FBM KLCI rose 11.70 points to 1478.64 points.

“Following the mixed performances in the US and Europe, the FBM KLCI remains uncertain and could hover below the resistance of 1520 points,” it said.