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.
The Korea Exchange (KRX) announced plans to launch a new stock index, the Korea Value-up Index , on September 30, in an effort to boost South Korea’s equity market and counter its historically low stock valuations . The index will consist of 100 profitable local companies that exhibit strong shareholder return policies and have a proven track record of complying with government efforts to reduce the so-called " Korea discount " on stock prices. The Korea discount refers to the lower valuations typically assigned to South Korean companies compared to their global peers, primarily due to low dividend payouts and the dominance of opaque conglomerates known as chaebols . The new index is designed to attract more investment inflows by serving as a benchmark for the creation of exchange-traded funds (ETFs) , which can be traded like stocks in real-time by retail investors. The Korea Exchange expects the new index to facilitate the development of various index-based products a...