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.
Optimism grows that Malaysia’s currency could strengthen further, fueled by expected monetary easing and structural reform. Analysts See Ringgit Gaining Against the Dollar OCBC forecasts the ringgit could strengthen to 4.15/USD in Q4 if Bank Negara Malaysia (BNM) delivers further rate cuts. Maybank projects an even stronger outcome— 4.10/USD by December . MUFG expects a 1.5% gain from recently stalled levels, supported by better export competitiveness from a softening US tariff regime. Supporting Factors: Policy and Sentiment Alignment BNM cut rates 25 bps in July , becoming the last central bank in Southeast Asia to do so. Record foreign inflows : Q2 saw US$4.3 billion (RM17.4 billion) flow into Malaysian bonds, indicating strong capital interest. Federal Reserve easing trends and a weaker greenback help cushion ringgit depreciation risks. Structural Tailwinds Underpin Confidence The government’s bold five-year growth blueprint through 20...