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.
Global Rally Sets the Tone Asian equities looked set to extend a worldwide rally on Friday after US inflation data and a cooling labor market reinforced expectations that the Federal Reserve will cut rates next week. Futures for Japan, Australia, and Hong Kong all pointed higher following record closes for the S&P 500 and Nasdaq 100 overnight. A global stocks gauge also notched a fresh high. US equity contracts were flat in early Asia trade. Tech Boost in US Markets Microsoft gained in post-market trading after striking a new agreement with OpenAI, while Adobe rose on upbeat revenue guidance. Hyundai, meanwhile, flagged delays at a US battery plant due to labor shortages following an immigration raid. Inflation and Jobs Data Pave the Way for Fed Easing The August US consumer price index showed core inflation — excluding food and energy — rose 0.3% month-on-month and 3.1% year-on-year , in line with forecasts. At the same time, jobless claims spiked to their highest in n...