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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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US Goods Trade Deficit Widens in September Amid Import Surge

The US goods trade deficit widened sharply in September, growing by 14.9% to reach US$108.2 billion (RM472.9 billion), according to the Commerce Department's Bureau of Economic Analysis. The increase was driven by a surge in imports, while exports declined, highlighting continued pressure on economic growth.

This marks the third consecutive quarter where trade has negatively impacted gross domestic product (GDP). The widening trade gap suggests that the US trade balance remains a drag on the economy.

The government's advance GDP estimate for the July-September quarter is set to be released on Wednesday, with economists predicting a 3.0% annualized growth rate, matching the pace seen in the second quarter.

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