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.
Bank Negara Malaysia’s (BNM) surprise move to cut the Overnight Policy Rate (OPR) by 25 basis points to 2.75% — its first reduction since 2023 — has boosted overall sentiment. However, analysts believe the positive impact on Malaysian REITs (Real Estate Investment Trusts) will be modest . Key Rate Action BNM lowered OPR to 2.75% (from 3.00%) on Wednesday. Move seen as pre-emptive to support growth amid global uncertainties. Roughly half of economists polled by Bloomberg anticipated this cut. What Analysts Say Public Investment Bank Minimal earnings impact (only 1%-2% ) for REITs with floating-rate borrowings. Maintains neutral stance . Target price for IGB REIT raised to RM2.50 (from RM2.10) following Mid Valley Southkey mall acquisition. RHB Investment Bank Maintains “Overweight” on REITs. Strong domestic consumption and lower bond yields still support sector performance. Risks from SS...