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.
American Express recorded a strong start to the U.S. holiday shopping season, with retail consumer spending on its network rising 9% during the Thanksgiving-to-Cyber Monday period, CEO Stephen Squeri said on Wednesday. Holiday Spending Picks Up Despite Economic Concerns For payments companies, the final weeks of the year typically bring a surge in shopping, travel, and promotional spending . This year’s data eased worries of a softer season following the prolonged U.S. government shutdown and economic uncertainty. During the Goldman Sachs US Financial Services Conference, Squeri highlighted: 9% growth in U.S. retail spending 13% growth in U.S. Platinum cardholder retail spending Shares Rise as AmEx Outperforms Peers American Express shares closed 3.2% higher , extending year-to-date gains to 26.5% , outperforming Visa , Mastercard , and the broader market. Spending Growth Beats Market Trend Holiday spending on AmEx’s netw...