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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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Visa and Coinbase Partner to Enable Real-Time Crypto Purchases via Debit Cards

Visa Inc. has teamed up with Coinbase Global Inc. to allow customers with eligible Visa debit cards to make real-time deposits into their Coinbase accounts, marking a significant development in the crypto space. This partnership enables instant fund transfers for users in the US and the European Union, allowing customers to take advantage of 24/7 trading opportunities, according to a statement released on Tuesday.

Eligible Visa debit card holders can now use their cards to purchase cryptocurrencies on Coinbase and cash out directly to their bank accounts, providing greater flexibility for crypto traders. The collaboration between Visa, which already powers the Coinbase debit card, and Coinbase aims to streamline the connection between traditional payment systems and the digital-asset sector.

The crypto industry has historically faced difficulties in integrating with traditional banking due to concerns over market volatility and industry scandals. However, as crypto regulations become more defined globally, including potential clarifications in the US under the next administration, the sector may see a reduction in these challenges.

Coinbase's latest quarterly results, set to be announced on Wednesday, are expected to show the impact of increased competition on its trading volumes, a key metric for Wall Street analysts.

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