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.
Sethaput Suthiwartnarueput , Governor of the Bank of Thailand (BOT) , indicated that the central bank is unlikely to rush into further interest rate cuts , following last week’s surprise rate reduction. Speaking in an interview with Bloomberg Television, he stated that the bar for further rate adjustments would be set reasonably high . The BOT's first rate cut in over four years was driven by concerns over slowing credit growth , but future actions will depend on the outlook for inflation , economic growth , and financial stability . This position sets the BOT at odds with Prime Minister Paetongtarn Shinawatra’s government , which is pushing for lower interest rates and a higher inflation target to stimulate Thailand's sluggish economy. Sethaput emphasized that the current inflation target range of 1%-3% has helped keep price expectations anchored and allowed for moderate monetary tightening, contrasting with more aggressive hikes by neighboring countries. The BOT govern...