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Market Daily Report: Bursa Malaysia Closes Higher On BNM’s OPR Decision, Wall Street Gains

KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
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Today's Pre-Market Movers and Top Ratings

 Gapping Up:

  • FedEx (FDX.US): Stock surged 8.6% after the company exceeded fiscal Q2 earnings expectations and announced plans to spin off its freight business.
  • Eli Lilly and Co (LLY.US): Shares climbed 5.5%, buoyed by increasing confidence in its obesity treatmentscompeting in a high-demand market.

Gapping Down:

  • Nike (NKE.US): Shares dropped 7.4% despite strong Q2 results, as the company highlighted guidance concernslinked to "severe issues."
  • Novo-Nordisk A/S (NVO.US): Fell 18% after its next-gen obesity drug CagriSema delivered weight loss resultsbelow expectations in a late-stage trial.
  • Tesla (TSLA.US): Declined 5%, impacted by a 40.9% drop in European Union registrations in November compared to last year.
  • Trump Media & Technology (DJT.US): Slipped 5.5% after an SEC filing revealed Donald Trump transferred his stake in the company into a revocable trust.
  • MicroStrategy (MSTR.US): Dropped 7.6%, and Coinbase (COIN.US) fell 6.6%, driven by a sharp decline in Bitcoin prices after recent highs.

Takeaway:

The market remains volatile, with significant movements driven by sector-specific headwinds and broader macroeconomic factors. Investors are closely monitoring performance and guidance adjustments, particularly in tech, retail, and healthcare sectors.

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