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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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StanChart Partners with Wise for Faster FX Transfers in Asia, Middle East


Standard Chartered Plc (StanChart) has partnered with Wise Plc to leverage Wise’s platform for multi-currency money transfers across Asia and the Middle East. This integration will allow users to move funds in 21 currencies over the next few months, according to Wise Platform’s managing director, Steve Naudé.

Key Points:

  • Enhanced Cross-Border Transfers: Wise’s infrastructure will enable StanChart to provide faster and lower-cost international payments.
  • Current Collaborations: This partnership expands on StanChart’s existing relationship with Wise, particularly through Mox, StanChart’s digital bank based in Hong Kong.
  • Market Impact: Wise is also partnered with other banks like Brazil’s Nubank and HSBC’s Saudi Awwal Bank, with most cross-border payments completing instantly thanks to Wise’s extensive network.
  • Regional Focus: Asia-Pacific, especially Singapore, remains a growth target for Wise, which has 500 employees in its Singapore office.

Wise reported handling £35.2 billion (US$45.7 billion) in cross-border payments last quarter, highlighting the platform’s growing role in transforming traditional foreign exchange services for banking.

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