KUALA LUMPUR (June 13): The FBM KLCI trended lower in early trade this morning, weighed by select blue chips.

At 9.04am, the FBM KLCI shed 0.49 points to 1,788.40.

The early decliners included Malaysian Pacific Industries Bhd, KESM Industries Bhd, Globetronics Technology Bhd, Batu Kawan Bhd, Kuala Lumpur Kepong Bhd, ViTrox Corp Bhd, Petronas Dagangan Bhd, Elsoft Research Bhd, PPB Group Bhd and Lafarge Malaysia Bhd.

Asian stocks crept higher on Tuesday, defying a weak lead from Wall Street, which was dragged lower by technology stocks for a second day, while the Canadian dollar soared on the possibility interest rates might go up sooner than expected, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 percent in early trade, it said.

JF Apex Securities Research in a market preview today said US markets declined overnight following selldown in technology counters.

It said that similarly, European stocks tumbled after the recent UK election and uncertainty ahead of this week's Federal Reserve meeting.

“On the local market, the FBM KLCI gained 3.32 points to 1788.89 points.

“Following the bearish performance in the US and Europe, the FBM KLCI is likely to trend downwards, hovering below the resistance of 1800 points,” it said.