KUALA LUMPUR, Nov 9 — Bursa Malaysia ended lower today with selling seen in most heavyweights led by Axiata, Sime Darby and Genting, dealers said.

The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) fell 16.20 points, or 0.97 per cent, to end at 1,647.62, after opening 0.30 of-a-point higher at 1,664.12.

The market was range-bound throughout the day, moving between 1,640.34 and 1,665.36.

Mercury Securities Sdn Bhd Research Head, Edmund Tham, said the local and global bourses were jittery as they were shocked by the victory of Republican Donald Trump in the US presidential race over Democratic candidate, Hillary Clinton.

Trump has won 276 electoral votes, six more than needed to become the next US President, versus Clinton's 218 electoral votes.

"The market is expected to remain range-bound for the next few days within the range of 1,640 to 1,648 points.

"We don't think the market will drop much. Although the market is slightly overvalued, most investors are not willing to sell their stocks and they are also not into buying at the moment either," he told Bernama.

He said the market was digesting the news and believed that the investors will stay on the sidelines in the next few days.

The Plantation Index tumbled 102.40 points to 7,706.06, FBM Emas Index dipped 122.48 points to 11,576.26, FBMT 100 Index plunged 116.31 points to 11,292.78 and the FBM Emas Shariah Index lost 127.70 points to 12,154.93.  

The FBM 70 declined 157.28 points to 13,390.80 and the FBM Ace eased 46.59 points lower at 4,911.36.

Sector-wise, the Finance Index fell 118.91 points to 14,335.99 and Industrial Index lost 19.25 points to 3,136.74.

Losers led gainers 807 to 165 while 265 counters closed unchanged, 435 untraded and 24 others were suspended.

Turnover increased to 2.51 billion shares worth RM2.39 billion from yesterday's 1.24 billion units valued at RM1.70 billion.

Of the heavyweights, Maybank shed eight sen to RM7.87, TNB and Petronas Chemicals fell four sen each to RM14.28 and RM6.91 respectively, Public Bank declined 12 sen to RM19.68 and Sime Darby slid 11 sen to RM8.20.

Genting slipped 21 sen to RM7.80 and Axiata dropped 14 sen to RM4.70.

Among actives, RGB fell 1.5 sen to 23 sen, AirAsia X eased half-a-sen to 43 sen, Hibiscus decreased one sen to 29 sen and Nexgram added half-a-sen to 4.5 sen.

The Main Market turnover rose to 1.56 billion units worth RM2.18 billion from 853.36 million units worth RM1.63 billion on Tuesday.

The ACE Market volume increased to 375.41 million shares valued at RM51.03 million from 176.20 million shares valued at RM28.29 million.

Warrants gained to 559.67 million units worth RM154.32 million from 211.51 million units worth RM47.08 million yesterday.

Consumer products accounted for 61.93 million shares traded on the Main Market, industrial products (311.88 million), construction (107.84 million), trade and services (679.23 million), technology (41.57 million), infrastructure (12.64 million), SPAC (116.52 million), finance (85.18 million), hotels (193,300), properties (108.48 million), plantations (31.75 million), mining (5,000), REITs (7.22 million) and closed/fund (99,000). — Bernama