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Market Daily Report: Bursa Malaysia Closes Higher On BNM’s OPR Decision, Wall Street Gains

KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
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Market Daily Report: KLCI up on MISC support as crude oil rises





KUALA LUMPUR (Nov 6): The FBM KLCI rose 1.36 points or 0.1%, supported by blue-chip counters including MISC Bhd. Crude oil gains directed the spotlight on Bursa Malaysia's oil and gas-related stocks.

At 5pm, the KLCI closed at 1,742.29 points. MISC added 30 sen to RM7.41 to become Bursa Malaysia's fifth-largest gainer.

MISC shares rose after the shipping company declared a tax-free dividend of seven sen a share. MISC declared its dividend on Friday in conjunction with the announcement of its third quarter results.

Across Bursa Malaysia today, three billion shares worth RM2.08 billion were traded. Despite KLCI's gain, there were more decliners than gainers — 429 versus 401 respectively.

Top gainers included oil and gas-related companies Hengyuan Refining Co Bhd and Petron Malaysia Refining & Marketing Bhd.

Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com that "Hengyuan and Petron have benefited from rising oil prices”.

Reuters reported that oil prices hit their highest levels since July 2015 early on Monday as markets tightened, while Saudi Arabia's crown prince cemented his power over the weekend through an anti-corruption crackdown that included high profile arrests.

Brent futures, the international benchmark for oil prices, hit US$62.44 per barrel early on Monday, their highest level since July 2015.


Source: The Edge
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