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.
The Total Industry Volume (TIV) for Malaysia in September 2024 dropped by 15% to 58,032 units compared to 68,174 units in September 2023, according to the Malaysian Automotive Association (MAA) . Despite this drop, the year-to-date (YTD) TIV for 2024 showed a 4% increase , reaching 594,037 units , up from 571,957 units in the same period in 2023. The shorter working month in September, along with a wait-and-see approach by consumers ahead of the National Budget 2025 , contributed to the slowdown in sales. On a month-on-month basis, September's TIV was 20% lower than August's 72,367 units . The number of passenger vehicles sold in September 2024 fell 14% year-on-year to 52,922 units , while commercial vehicles sales dropped 23% to 5,110 units . However, YTD passenger vehicle sales increased by 6% , whereas commercial vehicle sales saw a 15% decline . In terms of production , the number of vehicles produced in September 2024 fell by 20% to 55,383 units compare...