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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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Malaysia's Manufacturing Sector on Track for Recovery Despite Five-Month Activity Dip, Economists Say


Malaysia's manufacturing sector remains on the recovery path, economists assert, despite another month of declining purchasing activity. Kenanga Investment Bank highlighted that China's anticipated recovery, driven by stimulus efforts and a global technology upcycle, is expected to help Malaysian manufacturers regain momentum by the year's end. Policy measures, including cash transfers, will support domestic demand.

“Manufacturing conditions are set to stabilize, aided by improvements in export-oriented sectors as China’s economy responds to stimulus measures,” Kenanga noted.

In October, Malaysia's PMI stayed at 49.5, marking the fifth consecutive month of contraction, driven by subdued demand. However, new orders rose for the first time since June, and export demand has grown consistently for seven months, suggesting recovery prospects. TA Securities forecasts continued new order growth, while BIMB Securities points to positive trends in the semiconductor sector and increased demand for AI technology.

Across Asia, mixed PMI data emerged, with China's manufacturing PMI rising to 50.1, reflecting early signs of recovery, and Vietnam’s PMI improving to 51.2 after Typhoon Yagi. However, Indonesia and Thailand saw stagnation, with PMI readings at 49.2 and 50.0, respectively.

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