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.
After more than two years of currency pressures, Asia's central banks are set to receive some relief as the US Federal Reserve (Fed) is poised to cut interest rates by a quarter point on Wednesday. However, the path ahead for the region's monetary policy remains uncertain and potentially challenging. Lower rates in the US provide room for officials in Jakarta, Seoul, Mumbai , and other capitals to consider easing their own rates. The anticipation of the Fed's rate cut has already attracted investors to emerging Asian debt and equities, boosting currencies across the region. Uncertain Path Ahead for Asia's Central Banks The critical question now is how much these central banks need to cut in the coming months, or whether they need to cut at all. Countries like India and the Philippines face inflationary risks, while South Korea might prioritize financial stability. “It would be an error to think the region’s policymakers are chomping at the bit for their chance to c...