KUALA LUMPUR (June 21): The FBM KLCI started got off to a muted start this morning, in line with the subdued regional markets.

At 9.05am, the FBM KLCI dipped 3.18 points to 1,706.57.

The early decliners included Nestle (M) Bhd, Petronas Dagangan Bhd, British American Tobacco (M) Bhd, Telekom Malaysia Bhd, Kuala Lumpur Kepong Bhd, PPB Group Bhd, MISC Bhd, UMW Holdings Bhd, SHH Resources Holdings Bhd and Cypark Resources Bhd.

Asian shares were subdued on Thursday as a lull in the Sino-U.S. trade tussle helped calm nerves enough for the Nasdaq to reach a record high, while tensions in the oil market grew ahead of an OPEC meeting that may expand crude supply, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan was 0.05 percent firmer, while Japan's Nikkei edged up 0.12 percent in thin trade, it said.

JF Apex Securities Research in a market preview said US markets ended mixed with the Nasdaq hitting a record high while the Dow extended its losses to 7 days.

It said European stocks were flat ahead of OPEC meeting to decide on oil production.

“On the local market, the FBM KLCI lost 5.61 points to 1709.75 points after surrendering intraday gains from 1728.69 points.

“Following the mixed performance in the US and Europe, the FBM KLCI could trend sideways above the psychological level of 1700 points,” it said.