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.
The International Monetary Fund (IMF) expects a significant shift in global economic growth, with the BRICS nations — China, India, Russia, and Brazil — playing a larger role in driving expansion over the next five years. This forecast, based on purchasing power parity (PPP), highlights the growing reliance on emerging markets over wealthier G7 countries, such as the US, Germany, and Japan.
According to the IMF’s latest outlook, China will contribute 22% of global growth through 2029, surpassing the combined total of all G7 nations. India is set to add nearly 15%, further solidifying its role as a global growth engine.
The report also shows emerging economies like Egypt and Vietnam will contribute similar growth shares to advanced economies like Germany, Japan, France, and the UK. In contrast, Canada and Italy, the smallest G7 economies, are expected to contribute less than 1% each, lagging behind populous nations like Bangladesh and the Philippines.
This projection underscores the growing importance of BRICS economies in shaping the future of the global economy, as the influence of traditional economic powerhouses diminishes.
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