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.
Sector Rating: POSITIVE MBSB IB maintains a POSITIVE call on the Malaysian property sector, citing improved sentiment, better loan approvals, and a favorable monetary environment following the recent OPR cut by Bank Negara Malaysia (BNM) . Top BUY Picks & Target Prices Company Rating Target Price Highlights Mah Sing Group BUY RM1.49 Focus on affordable housing; rate cut to boost first-time homebuyer demand UOA Development BUY RM2.04 5.6% dividend yield; expanding into Johor Matrix Concepts BUY RM1.65 MVV City growth driver; ~6% yield; steady Bandar Sri Sendayan contributions Key Sector Insights 1. OPR Cut Spurs Affordability & Lending The OPR cut is expected to improve loan eligibility , reduce interest costs, and reignite buying interest , particularly for mid-range residential units . Loan approvals rose 5% MoM in May , with a higher approval ratio (46.4% vs. 44.3% in April). Cumulative approved loans (Jan–May 2025): RM110.9 billion, s...