KUALA LUMPUR (Nov 4): The FBM KLCI rose 0.16 point on gains in stocks, including CIMB Group Holdings Bhd and Genting Bhd. The KLCI erased losses after volatile trade ahead of the U.S. presidential election this Tuesday (Nov 8).

The outcome of the US presidential election, which involves Democratic candidate Hillary Clinton and Republican nominee Donald Trump, will be closely-watched as U.S. policies have an impact on world political and economic dynamics.
 
At 5 p.m. today, the KLCI closed at 1,648.24 points, after reaching its intraday low and high at 1,643.95 and 1,651.32 points, respectively.

Genting Bhd rose 23 sen to RM7.80 to become Bursa Malaysia's second-largest gainer. CIMB rose one sen to RM4.77, to become the ninth most active stock.

Genting Bhd shares rose after its 52.89%-owned subsidiary Genting Singapore PLC reported a 187% increase in third quarter net profit from a year earlier. Genting Singapore said net profit rose to S$106.86 million (about RM324 million) in the third quarter ended Sept 30, 2016, from S$37.2 million.
 
CIMB shares rose as investors bargain-hunted for the stock, after the shares fell to their intraday low at RM4.72.

Across Bursa Malaysia, 1.32 billion shares, worth RM1.61 billion, were traded. There were 343 gainers and 402 decliners.

Technical analysts said Bursa Malaysia's share-trade volume was below the three-month average. “The volume is only about 1.32 billion, compared with the three-month average of about 1.7 billion to 1.8 billion.

"This indicates that a lot of the investors are on the sideline at the moment, with the uncertainty on who will win the election in the U.S.,” Malacca Securities Sdn Bhd technical analyst Loui Low Ley Yee told theedgemarkets.com.