KUALA LUMPUR (Dec 24): The FBM KLCI dipped 0.345% in early trade this morning, dragged by heavyweights Tenaga Nasional Bhd, Malayan Banking Bhd and Petronas-linked counters, tracking muted regional markets.

At 9.05am, the FBM KLCI fell 5.72 points to 1,608.46.

The top losers in early trade included Petronas Gas Bhd, Public Bank Bhd, Tenaga Nasional Bhd, British American Tobacco (M) Bhd, QL Resources Bhd, United Malacca Bhd, Maxis Bhd, Petronas Chemicals Group Bhd, Telekom Malaysia Bhd and Malayan Banking Bhd.

Bloomberg said Asian stocks face a muted Christmas Eve session on Tuesday, with trading diminishing at the end of a year that took a global benchmark to successive record highs.

After a becalmed session Monday on Wall Street, futures on Japanese and Hong Kong equity benchmarks were little changed. Australian shares opened flat. U.S. futures were also flat after the S&P 500 closed higher for the eighth time in nine sessions. Volume Monday was more than 20% below its 100-day average for most of the day. The Dow Jones Industrial Average paced indexes as Boeing Co. surged after the company ousted Chief Executive Officer Dennis Muilenburg, it said.

JF Apex Securities Research said US markets extended the year-end rally to record high levels after China cut import taxes on US products.

It said that earlier, European stocks ended mixed as investors took profit ahead of Christmas holiday.

“On the local market, the FBM KLCI gained 4 points to 1614.18 points.

“Following the bullish momentum from window dressing, the FBM KLCI could extend its gains towards the resistance of 1625 points,” it said.