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.
Key Takeaway Asian stocks recovered on Thursday after Federal Reserve officials hinted at upcoming rate cuts, calming nerves from a bond market selloff. Softer U.S. jobs data also reinforced expectations of easing. Market Snapshot MSCI Asia ex-Japan : +0.5% Australia (ASX 200) : +0.7%, rebounding from worst drop since April Japan (Nikkei 225) : +1.2% at open China (Shanghai Composite) : –0.4%, tracking third straight decline on regulatory cooling measures Driving Factors Fed Support for Cuts : Fed Governor Christopher Waller signaled backing for rate cuts in coming months. Stephen Miran (Trump’s Fed Board nominee) emphasized commitment to central bank independence. Jobs Data : Weak JOLTS job openings reinforced bets on a September cut. Beige Book : Painted a mixed U.S. economic outlook, with tariff-related price risks noted. Bond & Currency Moves U.S. Treasuries : 10-year yield at 4.2129% (vs. 4.211% prior close) 2-year yield at 3.6166% (vs. 3.612% prior close) Currencies : USD/JPY...