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.
Malaysian Prime Minister Najib Razak has targeted budget spending at his coalition’s most loyal voters, seeking to limit any damage from more than a year of political turmoil as talk turns to a potential early election. Najib Razak chases 'ultimate' win as supporters get budget goodies The premier allocated more funds for his cash handout program to the poorest 40 percent of Malaysians, promised civil servants a bonus and introduced extra assistance for farmers. He pledged more roads, bridges and better electricity and water supply for rural regions, and sought to woo younger voters with discounts on outstanding student loans and access to cheap housing in urban areas. After weathering funding scandals and attempts to topple him for a good part of his second term as premier, Najib must balance a slowing economy with keeping voters happy ahead of an election that could come as soon as March. While the opposition is fractured, it has sought to lure ethnic Malays from Na...