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Market Daily Report: Bursa Malaysia Ends Higher On Positive Sentiment, CI Up 0.83 Pct

KUALA LUMPUR, Nov 6 (Bernama) -- Bursa Malaysia closed higher today, buoyed by supportive local economic policies, positive sentiment from strong technology stocks earnings, and a favourable United States (US) market outlook, an analyst said. Add to that, Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 3.0 per cent is poised to encourage domestic spending and investment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 13.47 points, or 0.83 per cent, to close at its intraday high of 1,634.17, compared to Tuesday’s close of 1,620.70. The benchmark index opened 3.71 points higher at 1,624.41 and subsequently hit a low of 1,623.52 in early trade before trending upwards toward the closing session. Market breadth was positive, with advancers trumping decliners 849 to 352, while 428 counters were unchanged, 765 untraded, and nine suspended. Turnover expanded to 3.39 billion units
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Asia Enters Busiest Earnings Week with Chinese Banks in Focus

 Asia is entering its busiest week for earnings, with Chinese and Hong Kong-listed banks in the spotlight as investors look for signs of the potential impact from Beijing's stimulus measures.

A total of 544 firms from the MSCI Asia Pacific Index will report their earnings this week, including major players like the Industrial and Commercial Bank of China Ltd, according to Bloomberg data.

Investors will pay close attention to Chinese lenders' results, looking for any indications of increased credit demand, which could signal a recovery in consumer confidence. Chinese banks have faced challenges from slowing profit growth and narrowing interest margins, making their outlook critical for understanding the broader economic recovery.

In Hong Kong, HSBC Holdings Plc will also be closely watched after its recent corporate structure revamp, which has attracted investor interest.

This week’s earnings results are expected to provide key insights into the region’s economic health and the effectiveness of China's recent policy moves to stimulate growth.

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