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.
Key Takeaway: Chinese renewable-energy firms Sungrow Power Supply Co and JinkoSolar Holding Co plan GDR listings in Frankfurt , marking a strategic shift to Europe as they seek to raise capital and expand international profiles. Chinese companies are increasingly viewing Germany as a prime fundraising location , aiming to boost global depositary receipt (GDR) listings. Renewable-energy firms Sungrow and JinkoSolar are preparing substantial Frankfurt listings, with Sungrow targeting 4.88 billion yuan and JinkoSolar planning a 4.5 billion yuan offering through a Shanghai-listed unit. The China Securities Regulatory Commission (CSRC) supports expanding China-Europe financial ties, as indicated by a recent memorandum of understanding signed on Nov 6 with German exchanges. Analysts see this as a timely move, especially as Chinese firms explore alternative fundraising routes amid US-China trade tensions . Although Chinese GDR listings gained traction in Switzerland before regulatory del...