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.
Eurozone economic growth remains sluggish and dominated by downside risks, European Central Bank (ECB) President Christine Lagarde said during a parliamentary hearing on Wednesday. The bloc’s economy has been stagnant for 18 months, with the long-anticipated recovery yet to materialize. Economic Outlook Speaking to the European Parliament's Committee on Economic and Monetary Affairs in Brussels, Lagarde painted a cautious picture: Short-Term Growth: Likely to weaken further, driven by a slowdown in the services sector and continued contraction in manufacturing. Medium-Term Risks: Geopolitical tensions and rising trade barriers are elevating uncertainties, particularly for the bloc's trade-dependent economy. "Survey-based data suggest that growth will be weaker in the short term," Lagarde said. "The medium-term economic outlook is uncertain, however, and dominated by downside risks." Trade barriers, she noted, could hinder manufacturing and investment, com...