KUALA LUMPUR (July 17): The FBM KLCI trended lower in early this morning, tracking regional markets and dragged by index-linked Tenaga Nasional Bhd, Press Metal Aluminium Holdings Bhd and IHH Healthcare Bhd.

At 9.05am, the FBM KLCI drifted 2.41 points lower to 1,666.53.

The decliners included Carlsberg Brewery Malaysia Bhd, Tenaga Nasional. Hong Leong Financial Group Bhd, Press Metal, MCE Holdings Bhd, Teck Guan Perdana Bhd, ViTrox Corp Bhd, Pos Malaysia Bhd and IHH Healthcare.

Asian shares drifted lower on Wednesday after a lacklustre performance by Wall Street, while the dollar got a lift from robust U.S. retail data and a Brexit-driven dive in the pound, according to Reuters.

Oil prices also took a spill on hints U.S. tensions with Iran could be easing and as data showed stockpiles fell by less than expected last week, it said.

Kenanga IB Research said markets in Asia closed mixed yesterday, as investors anticipate a slower economy growth given China’s weak GDP growth numbers.

It said the FBM KLCI declined 3.4 points (-0.21%) to close at 1668.94.

The research house said chart-wise, the index is observed to be consolidating between a range of 1,650 and 1,700, likely due to the lack of major catalyst within the market.

“Meanwhile, signals from key momentum indicators continue to appear uninspiring.

“From here, resistances can be found at 1,700 (R1). A break above should see the index trend higher towards 1,730 (R2).

“Conversely, downside supports can be identified at 1,650 (S1) and 1,600 (S2),” it said.