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 Points French government bonds are attracting dip buyers after yields spiked on renewed political uncertainty. The 10-year OAT yield touched 3.55% this week, the highest since March, narrowing the gap with Italian bonds. The spread vs. German Bunds briefly widened to 82 bps before easing back to ~79 bps. Amundi CIO Vincent Mortier says spreads are now at levels that “attract marginal buyers,” helping to stabilize the market. Market Context The volatility was triggered by Prime Minister Francois Bayrou’s surprise call for a confidence vote on Sept. 8 , forcing him to seek either far-right abstentions or a highly unlikely alignment of leftist lawmakers. Political instability has weighed heavily on French assets since last June’s snap elections produced a hung parliament. Bonds: Investors are reassessing valuations, with yields now at attractive entry points. Equities: The CAC 40 Index has fallen 3.6% over the pas...