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.
LG Electronics India ’s long-awaited US$1.3 billion (RM5.5 billion) initial public offering drew strong demand, with the issue fully subscribed within hours of launch on Tuesday — reflecting solid investor confidence in India’s fast-growing consumer appliance market. At the upper end of its price band, the IPO values the company at US$8.7 billion , positioning it among India’s largest listings this year. The offering saw total bids of ₹84.9 billion , or 1.04 times covered , on the first day of its three-day subscription period. Breakdown of Subscription Non-institutional investors: 2.3x subscribed Retail investors: 81% subscribed Institutional investors: 49% subscribed (as of 4:51pm IST) The IPO closes Thursday (Oct 9) , with trading expected to commence Oct 14 . Market Context The listing comes amid a busy IPO season in India, with total 2025 fundraising projected to reach US$8 billion . Recent reforms in Ind...