KUALA LUMPUR (June 12): The FBM KLCI opened lower this morning, weighed by index-linked banking stocks.

At 9.05am, the FBM KLCI fell 2.93 points to 1,772.87.

The early decliners included United Plantations Bhd, Public Bank Bhd, Hartalega Holdings Bhd, Genetec Technlogy Bhd, SWS Capital Bhd, Malayan Banking Bhd, Berjaya Sports Toto Bhd and AirAsia Bhd.

The dollar jumped to a 3-week top on Tuesday while Asian shares started cautiously as investors were hopeful of a positive outcome from a highly anticipated U.S.-Korea summit, which could set the stage for ending a nuclear stand-off on the Korean peninsula, according to Reuters.

Japan's Nikkei climbed 0.8 percent to the highest in three weeks and South Korean shares added 0.1 percent. Australia's benchmark index was a tad firmer while New Zealand eased 0.3 percent, it said.

JF Apex Securities Research in a market preview said US markets edged slightly higher ahead of US-North Korean summit in Singapore as well as the Federal Reserve's two-day meeting.

It said that earlier, European stocks advanced with the Italian market being the top performer as banking stocks rose ahead of central banks interest rate decision this week.

“On the local market, the FBM KLCI lost 2.52 points to 1775.80 points.

“Following the positive performance in the US and Europe, the FBM KLCI could remain buoyed with resistance at 1800 points,” it said.