FBM KLCI erases earlier gains ahead of US PCE data

KUALA LUMPUR: The FBM KLCI erased early gains while the broader market saw broad-based selling as it succumbed to profit-taking ahead of the weekend.

While Asian markets were broadly higher on a weaker US consumer spending report, investors remained wary of the release of the US personal consumption expenditures report, the Federal Reserve's preferred gauge of inflation, tonight.