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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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KKR Considers £3 Billion Investment in Thames Water's Rescue Share Plan

US investment firm KKR is exploring participation in Thames Water’s £3 billion share sale, according to Sky News, as part of a broader recapitalisation effort for Britain’s largest water utility.

Thames Water, currently managing significant challenges from sewage issues, aging infrastructure, and mounting debt, announced last month it had secured a provisional financing deal with creditors to sustain operations for at least another year. The utility serves approximately 16 million people in London and surrounding areas.

According to the report, KKR’s involvement hinges on regulatory approval from water regulator Ofwat, expected by January. However, one potential hurdle for KKR may be its existing 25% stake in Northumbrian Water, which would require a Competition and Markets Authority review under Ofwat’s mergers regime.

The UK government has remained on alert, prepared to take Thames Water into special administration if necessary, to prevent potential financial collapse.

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