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.
Mizuho Financial Group Inc.'s asset management division, Asset Management One Co, is preparing to launch an active fund focused on large-cap Japanese stocks by the end of the year, aiming to draw investors back to domestic markets. This initiative comes amid a trend where many investors have been favoring foreign equity index products. Key Takeaways: Fund Target and Strategy : Asset Management One Co plans to grow the investment trust to ¥500 billion (approximately $3.4 billion) over the next five to ten years. The fund will focus on about 50 large-cap Japanese stocks, aiming to capitalize on an anticipated return of interest in the domestic market. Shift from Savings to Investments : The Japanese government is actively encouraging citizens to move their financial assets from savings to investments to support economic growth. This effort is reflected in the growing popularity of new tax-free investment accounts, such as Nisa, which has driven the net asset value of publicly offered...