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.
Moody’s has downgraded Israel's credit rating for the second time this year, citing escalating costs from nearly 12 months of conflict with Hamas in Gaza and worsening hostilities with Hezbollah . The country's rating was cut by two notches to Baa1 , leaving it three levels above non-investment grade, with a negative outlook . Moody’s highlighted the significant geopolitical risks facing Israel, noting that the intensifying conflict with Hezbollah has raised concerns over long-term economic stability. Israel's projected war costs through the end of 2025 are estimated to reach $66 billion , more than 12% of the nation’s GDP . Despite the Israeli government’s criticism of the downgrade as “excessive and unjustified,” Moody’s expressed doubts about a rapid economic recovery , forecasting that the conflict would weaken Israel’s economy more severely than initially expected. The country’s fiscal deficit has surged, and growth forecasts have been revised downward, with 202...