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Market Daily Report: Bursa Malaysia Ends Lower as Investors Eye US Data, BOJ Decision

KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week.   At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day.  The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
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Bank Negara to Replace KLIBOR With Transaction-Based Benchmark Rates by 2029

Bank Negara Malaysia (BNM) announced on Thursday that it will phase out the Kuala Lumpur Interbank Offered Rate (KLIBOR) and transition to the Malaysia Overnight Rate (MYOR) and Malaysia Islamic Overnight Rate (MYOR-i) as the country’s new benchmark reference rates.

According to BNM, the KLIBOR will be discontinued effective Jan 1, 2029, marking a complete shift toward transaction-based benchmarks aligned with global best practices.

The MYOR (introduced in 2021) and MYOR-i (introduced in 2022) are based on actual overnight interbank transactions, offering higher transparency and reflecting real market conditions.

Transition Timeline

  • By Oct 1, 2026: Financial institutions must be ready to offer MYOR- and MYOR-i-based products as standard.

  • By July 1, 2027: MYOR-i to become the reference rate for all new Islamic products.

  • By June 30, 2028: All legacy KLIBOR contracts to be converted to MYOR/MYOR-i or to include fallback provisions.

  • Jan 1, 2029: KLIBOR will cease entirely.

BNM said it will work closely with banks and industry players to ensure a smooth transition and maintain stability in Malaysia’s financial markets.

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