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.
China’s stock market has seen an impressive rally this year, and according to Sean Taylor , CIO and Portfolio Manager at Matthews Asia, this surge is being driven by tech , artificial intelligence (AI) , and the recovery of the private sector . The big question now: Is this rally sustainable? Key Drivers of the Rally: Tech and AI Lead the Charge : The rally is largely powered by the tech sector , with AI playing a significant role. This tech-driven surge is seen as a positive signal for growth, especially as China’s private sector begins to recover. Private Sector Rebound : One of the most important factors fueling growth is the warming of China’s private sector , as evidenced by a meeting between President Xi and key private entrepreneurs like Jack Ma . This shift signals the potential for job creation and more investment in the private sector, which in turn could fuel further market growth. No Policy Hope, But Still Up ...