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.
Quick Summary Montage Technology shares jumped up to 64% , closing 57% higher in their Hong Kong debut US$902 million IPO marks the biggest opening-day gain in five years for deals of similar size Rally highlights strong investor appetite for China AI and semiconductor stocks Valuation gap with Shanghai listing fueled demand What Happened Shares of Montage Technology Co surged on their first day of trading in Hong Kong after the chip designer raised US$902 million in one of the city’s most eye-catching IPOs in recent years. IPO price: HK$106.89 (top of the range) Close: HK$175 Opening-day gain: ~57% (peaked at +64%) The offering involved 65.9 million shares and was priced at a 44% discount to Montage’s Shanghai-listed shares, which closed at 170.90 yuan prior to the deal. Why Investors Piled In Strong AI momentum: Persistent demand for China AI-related sto...