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.
Oil Surges, HSBC Tightens, and Shein Eyes IPO: 5 Key Market Movers to Start Your Day in Asia Rising Tensions : Oil prices surged over 5%, with West Texas Intermediate (WTI) settling above $73 per barrel , as markets brace for the possibility that Israel’s retaliation against Iran could target critical oil infrastructure . President Joe Biden confirmed discussions about potential support for strikes on Iranian oil facilities, raising concerns of global energy disruptions . HSBC Cuts Costs : HSBC is canceling events and cutting back on travel expenses as the bank’s new CEO, Georges Elhedery , focuses on reducing costs. The bank recently scrapped a summit in India and introduced restrictions on internal trips, aiming to trim $2 billion in expenses ahead of its first quarterly results under the new leadership. Shein Eyes IPO : Shein , the online fashion giant, is preparing for informal meetings with investors ahead of a potential London IPO , according to sources. The company awa...