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.
Australia's millennial households , those aged 29 to 43, have seen the steepest decline in real average disposable incomes over the past two years, according to Goldman Sachs Group Inc , leading to a downgrade in economic growth estimates for the country. Real incomes for millennial households have dropped by 9.4% during this period, marking the largest decline among any age group, Goldman estimates. Inflation, higher taxes, and rising interest rates have disproportionately impacted this cohort, which tends to spend heavily on discretionary items , said economist William Nixon in a note to clients on Friday. Nixon pointed out that younger and middle-aged households face major financial headwinds , compounding the effects of inflation that have affected all age groups. This decline in income is expected to result in a more gradual recovery in consumption than previously estimated, with the government's recent tax cuts having a limited impact . Goldman has revised its agg...