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.
Luxury still turns heads—but investors haven’t been impressed lately. While brands like Hermès and Prada remain culturally iconic, their stocks have taken a hit since the post-pandemic boom faded. The reason? Overpricing, weak Chinese demand, and new tariff threats . Recent Performance (2-Year Declines) LVMH : -40% Kering (Gucci owner) : -50% Prada : -10% Luxury companies raised prices during the COVID boom to stay exclusive, but inflation and changing consumer habits left aspirational shoppers behind. What’s Changing Now? High-income consumers are thriving thanks to strong markets and tax cuts. Europeans feel more confident , and Chinese shoppers are cautiously spending again. Luxury stock valuations are near 15-year lows , making them more attractive. Bargain Valuations Prada : 14x 2026 earnings LVMH : <20x Moncler, Richemont, Kering : ~20x UBS says that when luxury trades this low, it outperforms 76% of the time (1–3 months) an...