KUALA LUMPUR, Nov 9 — Shares on Bursa Malaysia closed mixed after trending downwards, supported by some buying support in selected bluechips, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.41 point to end at 1,686.11 after moving between 1,680.79 and 1,686.32 throughout the day.

Losers pipped gainers by 469 to 434 while 328 counters were unchanged, 571 untraded and 15 others suspended. Volume decreased to 2.01 billion shares worth RM1.70 billion from Friday’s 2.28 billion shares worth RM2.02 billion.

Hong Leong Investment Bank said it expects the FBM KLCI to be volatile due to prospects of the December US Federal Reserve rate hike, following positive jobs data and strengthening US dollar.

“In the medium term, we expect KLCI to look for a tad more strength to retest 1,700 and 1,727 levels amid expectations that (equity investment firm) ValueCap will start investing in the equity market in late November or early December coupled with favourable seasonal November/December performance due to window-dressing activities,” it said.

“However, trading could be choppy in this holiday-shortened week in the wake of ongoing November reporting season and greater volatility in ringgit.”

Bursa Malaysia will be closed for Deepavali tomorrow.

On the scoreboard, the FBM Emas Index gained 12.29 points to 11,746.17, the FBM Emas Syariah Index improved 36.87 points to 12,622.23 and the FBM Ace Index rose 72.17 points to 6,508.61. The FBM 70 Index advanced 43.41 points to 13,041.46 and the FBMT100 Index inched up 11.17 points to 11,418.35.

Sector-wise, the Finance Index eased 7.41 points to 14,322.62, the Industrial Index fell 6.52 points to 3,320.85 but the Plantation Index was 17.16 points better at 7,721.90.

Of the heavyweights, Maybank rose 4 sen to RM8.39, TNB added 6 sen to RM13.16, Axiata inched up 1 sen to RM6.17, while Public Bank lost 6 sen to RM18.18.

Among losers, Nestle lost 66 sen to RM72.40, Petronas Gas was down 18 sen to RM22.92 and Cahya Mata Sarawak was 14 sen lower at RM5.26.

Main Market volume advanced to 2.10 billion units worth RM1.70 billion from 1.46 billion units worth RM1.87 billion on Friday.

Turnover on the ACE Market rose to 588.35 million shares worth RM128.55 million versus 508.65 million shares worth RM102.56 million. Warrants decreased to 275.97 million units worth RM36.01 million against 302.72 million units valued at RM43.28 million.

Consumer products accounted for 116.58 billion shares traded on the Main Market, industrial products (198.56 million), construction (48.07 million), trade and services (531.07 million), technology (102.65 million), infrastructure (12 million), SPAC (8.48 million), finance (38.20 million), hotels (1.83 million), properties (151.37 million), plantations (20.20 million), mining (17,100), REITs (3.52 million), and closed/fund (137,000). – Bernama