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.
Asian equities faced downward pressure on Friday morning after US stocks dropped past a key milestone, sending major indices into correction territory . The S&P 500 fell 1.4% to a six-month low, marking a 10% correction , the third straight week of losses. Similarly, the Nasdaq 100 also slipped by 1.9% , while Treasuries saw a rally. Key Market Movements: US stocks : The S&P 500’s correction led to a loss of $5 trillion from the benchmark's value, deepening losses in megacap tech stocks and junk bonds . An $8 billion ETF tracking junk bonds saw a significant loss, and Bitcoin also saw a dip before stabilizing in Asia. US tariffs : President Trump intensified his trade war rhetoric, threatening a 200% tariff on European wine and champagne . This was part of broader concerns over escalating t...