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 IT Firm Picks Banks for Second Listing Amid China’s Market Shift Unisplendour Corp, a Beijing-based IT services provider, is planning a second listing in Hong Kong to raise around US$1 billion (RM4.42 billion) to fuel its overseas expansion. BNP Paribas SA, China Merchants Bank International, and CSC Financial Co have been tapped as lead banks for the offering, with more banks potentially joining the deal. The company confirmed it is exploring equity financing in Hong Kong but has not finalized the plan or a listing timeline. China’s IPO Shift to Hong Kong Chinese firms are increasingly turning to Hong Kong for capital as China limits domestic stock sales to stabilize its equity market. Other major Chinese companies seeking Hong Kong listings include: Contemporary Amperex Technology Co Ltd (CATL) – the world’s largest battery maker Jiangsu Hengrui Pharmaceuticals Co – a major drugmaker Foshan Haitian Flavour...