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.
Chinese drugmaker Jiangsu Hengrui Pharma (01276.HK) has signed a major deal with GlaxoSmithKline (GSK.US) to co-develop up to 12 drug programs, in what analysts call one of the largest agreements in Chinese pharma history. Key Details: GSK receives an exclusive global licence for Hengrui’s enzyme inhibitors in clinical trials for lung disease, excluding China, Hong Kong, Macau and Taiwan. The companies will collaborate on up to 11 additional programs. Hengrui will lead development through Phase 1, with GSK taking over for later stages and commercialization. Financials: $500 million upfront payment; potential to earn up to $12 billion plus royalties if all programs reach development and commercial milestones. Strategic Impact: The deal underscores growing global interest in China’s drug innovation pipeline. Citi analysts note this could be the largest licensing deal ever for a Chinese biotech , reinforcing Hengrui’s position as a global pla...