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.
Bank Negara Malaysia kept its policy rate unchanged as global markets swung on rising oil prices, while Bursa Malaysia staged a rebound on bargain hunting despite geopolitical uncertainty.
Key Takeaways
US stocks tumbled as oil surged 7.5% on Middle East tensions
FBM KLCI climbed 0.88% on bargain hunting
Bank Negara maintained OPR at 2.75%
Inflation remains moderate, giving BNM room to stay neutral
Wall Street: Oil Spike Triggers Selloff
Nasdaq Composite 22,669.91 (-0.6%)
S&P 500 Index 6,814.48 (-0.8%)
Dow Jones Industrial Average 47,890.61 (-1.7%)
Crude Oil Futures jumped 7.5% to US$80.24 per barrel after reports that Iran struck an oil tanker, escalating fears of supply disruption.
The Strait of Hormuz — which handles roughly 20% of global oil supply — remains the focal point of risk following US-Israel airstrikes on Iran.
Cryptocurrencies also retreated:
Bitcoin -3%
Ethereum -3.7%
Key Point: Oil volatility is reviving inflation fears and pressuring global risk assets.
Bursa Malaysia: Bargain Hunting Lifts KLCI
FTSE Bursa Malaysia KLCI 1,713.20 (+0.88%)
Top movers:
Press Metal Aluminium Holdings Bhd +3.38%
MR D.I.Y. Group (M) Bhd -1.16%
USD/MYR: 3.9411
Investors selectively accumulated beaten-down counters amid a regional rebound, though sentiment remains cautious due to ongoing geopolitical developments.
Key Point: Local equities showed resilience as domestic fundamentals remain intact.
BNM Holds OPR at 2.75%
Bank Negara Malaysia kept the Overnight Policy Rate unchanged at 2.75%.
Inflation backdrop:
Headline inflation: 1.6%
Core inflation: 2.3%
Despite Middle East tensions and global volatility, policymakers believe the current rate stance appropriately balances growth and price stability.
Key Point: Moderate inflation allows BNM to stay steady despite rising external risks.
Stocks to Watch
NexG Bhd
Boardroom battle intensifies after Raya Aviation became largest shareholder; executive chairman suspended as factions push for an EGM.
British American Tobacco Malaysia Bhd
Managing director transition effective August 1.
Paramount Corporation Bhd
Targets RM1.2 billion in 2026 property sales with RM1.1 billion launches planned.
Sunview Group Bhd
Secured RM289.71 million EPCC contract for a solar project in Bintulu.
EPB Group Bhd
Proposed transfer from ACE Market to Main Market by Q3 2026.
Poh Huat Resources Holdings Bhd
Proposal to pay at least 50% of independent directors’ fees in shares to be voted on April 15.
Market Outlook
Markets remain driven by:
Oil price volatility
Inflation expectations
Central bank policy signals
While Wall Street reacted sharply to the oil spike, Bursa Malaysia demonstrated selective resilience supported by steady monetary policy and contained inflation.
Overall theme: BNM holds steady as oil-driven uncertainty clouds global markets, but local equities find support on dips.
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