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.
With technology stocks trading near record valuations, Citi strategists argue that investors should look beyond the sector for the next leg of growth. Their “Thematic 30” Recommended List , recently updated, highlights non-tech companies in healthcare, industrials, financials, and consumer that combine earnings growth with reasonable valuations. Why Look Beyond Tech? Tech valuations stretched : The S&P 500 tech sector trades at 27x forward earnings , near the high end of its range since 2022. PEG ratio elevated : At ~2x PEG (P/E-to-growth), tech leaves limited upside unless growth expectations accelerate. Rotation opportunity : Non-tech sectors offer similar or stronger growth at lower relative valuations. Citi’s Screening Criteria Participation in structural themes – e.g., digital payments, medical innovation, advanced industrials, or contactless consumer trends. Growth in line or above S&P 500 – analysts forecast ~10% EPS growth for the S...