KUALA LUMPUR (Nov 11): The FBM KLCI fell 18.55 points or 1.1% to 1,634.19 today as the ringgit hit a 14-month low of 4.341 against the US dollar.

The fall in the stock indicator was in line with the selldown in regional markets, said Etiqa head of research Chris Eng.

“The downside for the FBM KLCI would be capped next week and we don’t see the market [returning] to the 1,500 levels, barring any inflammatory statements from the US president-elect over the weekend,” he told theedgemarkets.com.

Reuters reported that a searing selloff rocked Asian shares and emerging market currencies today as investors feared higher US interest rates under incoming President Donald Trump will spark capital outflows from the region.

“Emerging markets bore the brunt of selling, with MSCI emerging market .MSCIEF index falling 1.5% to its lowest level since July, with Indonesia and Malaysia hit the hardest in Asia, “ it said.

Singapore’s Straits Times Index was down 0.69%, while the Jakarta Composite Index fell 4.01%. Hong Kong’s Hang Seng index fell 1.35%, and South Korea’s KOSPI dropped 0.91%. However,  Japan’s Nikkei 225 index managed to rise 0.18%.

Bursa Malaysia saw 1.98 billion shares valued at RM2.81 billion traded today. Market breadth was mixed with 279 gainers, 612 losers and 274 counters unchanged.

Among the day’s top gainers were Top Glove Corp Bhd, Kuala Lumpur Kepong Bhd and Kossan Rubber Industries Bhd.

Losers included Genting Bhd, Malayan Banking Bhd and Hong Leong Financial Group Bhd.

Actives included Borneo Oil Bhd, RGB International Bhd and AirAsia X Bhd.