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Market Daily Report: Bursa Malaysia Closes Higher On BNM’s OPR Decision, Wall Street Gains

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.
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HSBC Repurchases Over 9.1 Million Shares

  HSBC Holdings  has  bought back and cancelled more than 9.1 million shares  from  Merrill Lynch International , according to a filing with the Hong Kong Stock Exchange. The bank repurchased  4.87 million shares  across  UK trading venues —including the  London Stock Exchange, Aquis Exchange, and Cboe Europe —at an average price of  £9.89  per share. An additional  4.25 million shares  were bought on the  Hong Kong Stock Exchange  at an average price of  HK$101.82 each. HSBC’s stock rose  0.39% in Hong Kong  and  0.82% in London  following the buyback disclosure.
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Chery Automobile Jumps 11.2% in Hong Kong Debut After $1.2 Billion IPO

 Strong Market Debut Chinese automaker  Chery Automobile  surged  11.2%  in its first day of trading on the  Hong Kong Stock Exchange  Thursday, after raising  US$1.2 billion  in the city’s second-largest IPO this year. The stock opened at  HK$34.20 , compared with the offer price of  HK$30.75 , while the  Hang Seng Index  gained 0.1%. IPO Demand and Valuation Chery sold  297.4 million shares  at the top end of its HK$27.75–HK$30.75 range, giving the company a market value of nearly  US$23 billion . Institutional tranche oversubscribed  11.6 times Retail tranche covered an exceptional  308 times The strong demand underscores investor appetite for new energy and smart vehicle plays. Cornerstone Support Almost half of the offering was taken up by cornerstone investors, who subscribed for  US$587 million  worth of stock. Notable buyers included: China’s Enterprise Mixed-Ownership Reform Fund...
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