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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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Global Stocks Rise on Amazon Surge; US Yields Climb Pre-Election

Global stocks rallied on Friday, fueled by a 6.2% surge in Amazon shares following better-than-expected results, while US 10-year Treasury yields hit a four-month high as investors approached the US presidential election with caution.


Key highlights:

  • Treasury yields rose to 4.361%, their highest since July, reflecting caution ahead of Election Day with Republican Donald Trump and Democrat Kamala Harris in a tight race.
  • Amazon's gains offset Apple’s 1.2% dip, with the iPhone maker signaling modest growth in the upcoming quarter.
  • Dow Jones Update: Nvidia will replace Intel in the Dow Jones Industrial Average, further impacting tech stock sentiment. Nvidia shares rose 1.9% in after-hours trading, while Intel dropped 1.4%.

Additional market insights:

  • The S&P 500 closed up by 0.41% but ended the week down 1.4%.
  • Oil prices gained slightly due to Middle East tensions, with Brent settling at $73.10 per barrel.
  • Dollar strengthened against the euro and yen, boosted by US jobs data.
  • Bitcoin rose to $69,531, maintaining its upward trend.

Investors continue to watch global markets closely, especially with upcoming elections and Fed policy announcements potentially adding volatility.

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