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.
German consumer sentiment is set to tumble in December , with the GfK/NIM index dropping to -23.3 points , down from -18.4 in November. This marks the lowest level since May and reflects rising pessimism about income prospects due to reports of job cuts and relocation of production abroad. Major companies, including Bayer , Volkswagen , and Thyssenkrupp , have announced layoffs , while bankruptcies are on the rise. Analysts expected a milder dip to -18.6 , but the steep decline highlights growing challenges in Europe’s largest economy, which is forecast to shrink by 0.2% in 2024 —its second consecutive year of contraction. The collapse of Germany's ruling coalition and upcoming snap elections in February have further heightened uncertainty, prompting households to increase savings , according ...