KUALA LUMPUR (Nov 9): The FBM KLCI fell 3.31 points or 0.2% after the US' stronger Oct employment data spurred expectation of an interest rate hike in December this year.

At 12:30pm, the KLCI settled at 1,682.39 points. At 12:53pm the ringgit weakened to 4.3630 against the strengthening US dollar.

Higher US interest rates do not bode well for Asian markets as investors turn their attention to US dollar-denominated assets.  

In Malaysia, analysts expect more volatility amid current US rate hike sentiment. 
"Expect  more  volatility  as  prospects of Dec Fed liftoff increased," Hong Leong Investment Bank Bhd analyst Nick Foo Mun Pang wrote in a note today.
 
Across Bursa Malaysia, decliners outnumbered gainers at 384 to 348. Trading volume was 1.23 billion shares valued at RM756.9 million.

Top gainer was Daibochi Plastic & Packaging Industries Bhd while British American Tobacco (M) Bhd led decliners. Bumi Armada Bhd was the most-active stock.
 
Hibiscus Petroleum Bhd suspended trading of its counter between 9am to 5pm today pending an announcement on a proposed acquisition. Hibiscus' share trade has been suspended since last Thursday.

Damansara Realty Bhd's share gains were also closely watched. Damansara Realty gained 10 sen or 11% to settle at 99.5 sen.
 
Last Friday, Bursa Malaysia queried Damansara Realty on its unsual share trade.
In response, Damansara Realty said it had participated in a public tender to construct houses in Putrajaya under Projek Perumahan Penjawat Awam 1Malaysia.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)