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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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Wall Street Watches US Election, Keeps Cash Ready for Volatility



With one trading session left before the highly anticipated US presidential election, Wall Street is closely monitoring polls for Republican Donald Trump and Democrat Kamala Harris. However, rather than making big market moves, investors are holding back, deeming the election too close to call and uncertain.

Market volatility is expected, with the Cboe Volatility Index (VIX) hovering above 20, signaling rising stress. Investors are opting to hold cash reserves, preparing to jump on opportunities that could arise from potential fluctuations.

"We’re not positioning for an election outcome; it’s a coin flip," says Eric Diton of Wealth Alliance. This cautious approach extends to interest rate decisions from the Federal Reserve and upcoming corporate earnings, adding further unpredictability.

Several investors, like Blanke Schein Wealth Management’s Robert Schein, have increased cash holdings to be ready for post-election market reactions. Others, such as Northern Trust, are focused on long-term fundamentals over short-term election outcomes, banking on resilient corporate earnings and economic growth.

While volatility may persist, patience is the safest strategy for now, say investment experts.

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