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.
Korea Zinc Co. announced it is reconsidering a $1.8 billion share sale plan following significant pushback from regulators and investors . This update comes after the share sale plan, proposed shortly after a substantial buyback, sparked an investigation and led to a stock sell-off. The company stated during its quarterly earnings call that it is "seriously considering" investor concerns and will provide further updates after more internal discussions. Reports suggest that Korea Zinc’s board may reach a decision by Wednesday. The proposed share issue would see shares sold at 670,000 won each — a 33% discount to the market price — with proceeds earmarked for debt repayment. However, investors view the sale as an effort to bolster shareholder support in a months-long battle between major shareholder factions .