KUALA LUMPUR (Sept 26): The FBM KLCI ticked higher in early trade Thursday, tracking regional markets, but gains were seen capped as local sentiment remains tepid with a lack of fresh catalysts.

At 9.05am, the FBM KLCI  added 0.12 points to 1,589.70.

The early gainers included Petron Malaysia Refining & Marketing Bhd, Hong Leong Financial Group Bhd, UEM Edgenta Bhd, Malaysia Airports Holdings Bhd, Cahya Mata Sarawak Bhd, G3 Global Bhd., MBM Resources Bhd, SBC Corp Bhd, Sig Gases Bhd and MISC Bhd.

Stocks in Asia pushed higher Thursday as signs of easing trade tensions overshadowed impeachment inquiry proceedings in Washington. The dollar steadied after climbing the most since March and the slide in Treasuries eased, according to Bloomberg.

Japan equities opened higher along with modest gains in South Korea and Australia. Earlier, the S&P 500 halted a three-day slide after President Donald Trump suggested a trade deal with China was possible and touted a pact with Japan. Yields on 10-year Treasuries edged lower following an increase toward 1.75%, it said.

CGS-CIMB Retail Research said the local bourse closed 2.75 points lower to remain below the 1,600-point level yesterday, in line with the fall across regional markets on global economic growth concerns.

It said the FBMKLCI remained tepid on the lack of buying catalysts.

“The benchmark FBMKLCI has been trading sideways for the past month or so, trading between 1,580 and 1,620.

“Until a breakout of either side, one can expect more see-saw movements in the days ahead. Resistance: 1,620 & 1,640. Support: 1,580 & 1,572,” it said.