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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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Temasek-Backed Superscrypt Targets $100M for New Blockchain Fund

Superscrypt, a blockchain venture capital fund seeded by Singapore’s Temasek Holdings, is working to raise up to $100 million for its second investment fund, insiders revealed. Temasek and New York-based fintech firm Republic are expected to be anchor investors and general partners in the fund, though final amounts may shift.

This comes after Temasek’s write-down of a $275 million investment in the failed crypto exchange FTX last year. Following that, Temasek refrained from direct crypto exchange investments due to regulatory concerns. However, blockchain investment momentum is resurging, with Superscrypt focusing on early-stage Web3 and blockchain applications.

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