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.
While global markets reel from surging oil prices triggered by the Iran war, one unlikely market is showing resilience — China. Despite being the world’s largest crude importer, Chinese stocks, bonds and the yuan have held firm, outperforming most major markets during the recent turmoil. Key Takeaways CSI 300 down just 0.3% since conflict began Yuan steady; trade-weighted RMB index hits one-year high 10-year China bond yields barely moved (+1bp) Strategic reserves and EV dominance cushion oil shock Resilience seen as tactical, not structural China vs. Global Markets Since late February: Japan: -6% South Korea: -9% India: -4% Europe: -5% US: -1.4% China (CSI 300): -0.3% China has preserved capital better than most global markets during the oil spike. The yuan has outperformed nearly all Asian currencies, while China’s 10-year government bond yield rose just 1 basis point — compared with more than 20 basis points for US Treasuries. Why China Is Holding Up 1. Energy Security Strategy For ...