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 stocks surged to a new peak on Tuesday after China unveiled significant stimulus measures aimed at revitalizing its economy and stabilizing its stock markets. The move sent Asian and European shares higher, triggering a strong rally in commodity prices as investors reacted positively to the announcements. The People's Bank of China (PBOC) governor, Pan Gongsheng, revealed plans to lower borrowing costs , inject more funds into the economy, and ease mortgage repayment burdens for households. Additionally, China plans to introduce new structural monetary policy tools to help stabilize its capital markets , a first for the country. These actions sent Chinese stocks soaring, with the CSI300 and Shanghai Composite indexes both rising over 4%, while Hong Kong’s Hang Seng Index climbed more than 4% to reach a four-month high. "Investor positioning in China stocks has been underweight , and the new stimulus measures provide a positive backdrop for the coming months,...