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.
Bank Negara Malaysia kept rates unchanged as global markets swung on rising oil prices, while Bursa Malaysia climbed on bargain hunting despite geopolitical risks. Key Takeaways US stocks tumbled as oil surged 7.5% amid tanker strike reports FBM KLCI rebounded 0.88% on bargain hunting Bank Negara Malaysia maintained OPR at 2.75% Energy volatility and geopolitical risk remain central market drivers Wall Street: Oil Shock Triggers Selloff Nasdaq Composite -0.6% S&P 500 Index -0.8% Dow Jones Industrial Average -1.7% Crude Oil Futures spiked 7.5% to US$80.24 per barrel after Iranian state media reported that Tehran struck an oil tanker. The Strait of Hormuz — responsible for roughly 20% of global oil flows — remains a flashpoint following US–Israeli airstrikes on Iran. Cryptocurrencies also pulled back: Bitcoin -3% Ethereum -3.7% Key Point: Oil volatility reignited inflation fears, pressuring US equities and risk assets. Bursa Malaysia: Bargain Huntin...