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 Takeaway: Asian stocks face pressure as doubts about Federal Reserve easing persist , fueled by concerns over inflation risks from Trump’s fiscal and trade policies. Most Asian markets are poised for a soft opening on Monday, with futures in Australia, Japan, and mainland China pointing to losses , while Hong Kong shows marginal gains. This follows a 1.3% drop in US stocks on Friday , which erased more than half of their post-election rally. Inflation Fears and Fed Policy: Investors are grappling with the possibility that Trump’s tariffs and tax cuts could reignite inflation , complicating the Federal Reserve’s easing cycle. Odds of a December rate cut are now less than 50%, with analysts predicting a slower pace of easing in 2025 . Shane Oliver, AMP Ltd’s chief economist, noted, “Trump’s policies pose upside risks to inflation over the next 1-3 years, making additional Fed cuts uncertain.” Asian Market Snapshot: Japan: Traders will monitor a speech by BOJ Governor Kazuo Ueda ...