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.
Key Takeaways Fed expected to cut rates by 25 bps to 4.00%-4.25%; markets watching Powell’s tone for guidance. Dollar index lingers near 2-month low; euro touched a four-year high before slight pullback. Gold extends record run, crossing US$3,700/oz for the first time; investors position for dovish Fed. Asian equities mixed: Hang Seng leads with 1.4% gain on optimism over TikTok deal; Nikkei slips. Oil steadies after recent surge; Ukraine drone strikes keep supply risks elevated. FX & Commodities The US dollar index edged up 0.1% to 96.72 after sliding 0.7% on Tuesday, its sharpest fall since July. The euro traded at US$1.1855, near its strongest level since 2021, while the yen held at ¥146.43. Markets have already priced in over five rate cuts this cycle, leaving limited room for further downside in the dollar. Gold climbed 0.2% to US$3,683/oz after breaking above US$3,700 for the first time, supported by Fed easing expectations and safe-haven flows. O...