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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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Dollar Weakens Amid Uncertain US Election Polls, Oil Gains as OPEC+ Delays Output Hike


The US dollar fell on Monday as polling data showed no clear lead in the US presidential election, easing expectations of a Trump victory that previously bolstered the dollar and Treasury yields. An index tracking the greenback dropped by the most in over six weeks, with major peers like the yen and Australian dollar gaining against it. Treasury futures rose as investors sought stability.

The latest poll, showing Kamala Harris ahead by 47%-44% in Iowa, has investors cautious, while the US dollar gauge and 10-year Treasury yields had recently reached highs amid speculation of a Trump win. His support for looser fiscal policy and high tariffs has raised concerns about inflation, potentially impacting Treasuries.

Meanwhile, oil prices rose, extending gains as OPEC+ delayed a production hike, and West Texas Intermediate climbed more than 1%. In China, officials announced measures to attract foreign investment in publicly traded firms, just days before the US election, which could have implications for China’s economy if Trump were to return to office.

Key Market Moves:

  • Stocks: S&P 500 futures up 0.1%; Australia's S&P/ASX 200 up 0.6%.
  • Currencies: The euro rose 0.5% to $1.0893; the yen up 0.8% to 151.80 per dollar.
  • Commodities: WTI crude up 1.3% to $70.36/barrel; gold up 0.1% at $2,740.21/ounce.

This week’s pivotal events include the US Federal Reserve's rate decision, global PMI data, and multiple CPI reports as markets await the election outcome and central bank moves.

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