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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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AI, sustainability awareness among jobs, skills in demand in Malaysia's financial sector

There are 159 roles and 157 skills that will be in demand for the next three years in Malaysia’s financial sector, according to the Future Skills Framework (FSF), a joint industry document launched on Monday.

Key Takeaways:

  • Future Skills Framework (FSF): Developed by the Asian Institute of Chartered Bankers, Malaysian Insurance Institute, and the Islamic Banking and Finance Institute Malaysia, the FSF categorizes skills into Prime Skills Clusters with 142 job-specific technical skills and Power Skills Clusters with 15 fundamental competencies across all roles.
  • Emerging Roles and Skills: The framework includes "emerging roles" such as artificial intelligence and machine learning in the Prime Skills Cluster, and "sustainability awareness" in the Power Skills Cluster.
  • Career Development: The FSF highlights potential career development pathways and provides access to nearly 1,000 capacity-building programs, serving as a reference point for policymakers, employers, and employees in the financial sector.
  • Industry Impact: Implementing the FSF is seen as a critical step for building a strong foundation for skills development and job-skills matching, addressing workforce challenges and opportunities, said Bank Negara Malaysia (BNM) governor Datuk Shaik Abdul Rasheed Ghaffour.
  • Job Creation: The financial sector workforce remained a net job creator, expanding by almost 3% in the last two years, with a focus on highly skilled workers, which comprise more than 95% of total job vacancies and newly created positions.
  • Talent Development: The governor emphasized the need for the industry to adopt a whole-of-industry and nation approach to meet evolving economic demands, highlighting the importance of keeping pace with changes in talent development.
  • Strategic Alignment: Officiated by Human Resources Minister Steven Sim Chee Keong, the FSF aligns with BNM's Financial Sector Blueprint 2022–2026, which emphasizes nurturing future-fit talents to enhance the financial sector’s competitiveness.
The FSF aims to prepare Malaysia's financial sector for future challenges by identifying key roles and skills, fostering talent development, and aligning with national strategic goals to enhance competitiveness and workforce readiness.

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