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.
Macquarie Bank Ltd.’s UK unit has been fined £13 million ($16.3 million) by the Financial Conduct Authority (FCA) after a metals trader in its London office booked fictitious trades to hide losses for nearly two years. Key Details Trading Misconduct : The unauthorized trades occurred between June 2020 and February 2022 , resulting in a loss of $57.8 million for Macquarie when the positions were unwound. FCA Actions : Macquarie resolved the matter early, qualifying for a 30% discount on the fine. The trader involved has been banned from the financial services industry . Bank’s Statement : The misconduct was isolated to one individual . No clients, markets, or third parties were directly affected or benefited financially. Regulatory Importance The FCA’s penalty underscores its commitment to maintaining market integrity and ensuring firms implement robust controls to prevent trading misconduct. ...