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.
Zambia is exploring a debt-for-nature swap as part of its strategy to reduce overseas debt, according to Finance Minister Situmbeko Musokotwane . This option, which allows a portion of a country’s debt to be refinanced in exchange for commitments to environmentally sustainable projects , is under consideration following Zambia’s successful restructuring of $3 billion in eurobonds to exit default. Musokotwane stated that the country is "thinking about it very closely" and is working on a framework to guide how funds can be used to protect the environment. The minister highlighted the benefits of further debt relief through this approach, though no formal plan has been finalized yet. The consideration comes as Zambia faces challenges from a record drought , which has led to the International Monetary Fund (IMF) reducing the country’s economic growth outlook to 1.2% for 2024, down from an earlier projection of 2.3% . Musokotwane also confirmed that Zambia is in talks with...