KUALA LUMPUR (Aug 16): The FBM KLCI edged up in early trade but gains are seen capped around the 1,775-1,780 level.

At 9.07am, the FBM KLCI was up 1.05 points to 1,773.44.

The top gainers included OSK Ventures International Bhd, Heineken Malaysia Bhd, Ornapaper Bhd, Aeon Credit Service (M) Bhd, Hengyuan Refining Company Bhd, Malaysia Airports Holdings Bhd, ViTrox Corporation Bhd and Lotte Titan Chemical Holding Bhd.

The dollar hoarded hefty gains on Wednesday after strong U.S. retail data put a Federal Reserve rate hike back on the agenda, while Asia stocks inched ahead as tensions over North Korea simmered down little, according to Reuters.

North Korean leader Kim Jong Un has delayed a decision on firing missiles towards Guam while he waits to see what the United States does, as Washington said any dialogue was up to Kim, it said.

Hong Leong IB Research in a traders’ brief today said following the step down of three CEOs from Trump’s manufacturing council; investors would deploy a wait-and-see strategy as the departure of the third CEO, coupled with the withdrawal of healthcare bill earlier could indicate a softer confidence towards Trump’s economic agenda such as corporate tax reform.

The research house said the Dow’s upside may be located near the 22,000-22,200 zones.

“On the local front, stocks are likely to trade on a muted tone following the flattish move in the US.

“The KLCI could see limited upside around 1,775-1,780.

“However, technology stocks which are oversold may still be under traders' radar as their uptrend is still intact after a recovery yesterday,”it said.