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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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European Stocks and US Futures Rebound as Dollar Weakens

 
European shares and US stock futures rallied on Thursday, bouncing back from a recent sell-off. The dollar slipped, with the euro, yen, and pound gaining strength.

Europe’s STOXX 600 rose 0.57%, following three days of declines. Britain’s FTSE 100 climbed 0.78%, and Germany’s DAX increased by 0.65%. In the US, Nasdaq futures were up 0.73%, fueled by a 12% jump in Tesla shares after the company reported strong third-quarter profits and forecasted 20-30% growth in sales for next year. S&P 500 futures rose 0.41% after a 0.9% drop in the previous session.

The rebound was supported by positive corporate earnings from Renault, Unilever, and Hermes in Europe. However, in Asia, Tokyo’s Nikkei gained only 0.1%, while Hong Kong’s Hang Seng and China’s blue-chip index fell by over 1%.

The dollar index fell 0.23%, with the euro, pound, and yen rising. The euro was last up 0.14% at $1.0797, helped by a slightly better-than-expected German PMI reading. The pound climbed 0.31% to $1.2963, driven by a rise in British government bond yields. The yen strengthened by 0.5% to 152 after recent declines.

In bond markets, US 10-year Treasury yields dropped five basis points to 4.196%, retreating from a three-month high.

In commodities, Brent crude futures rose 1.61% to $76.17 a barrel, recovering some losses after a rise in US crude stocks.

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