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.
Key Takeaway: Property, industrial, and tech-related news dominated Wednesday’s market updates, with major project launches, asset sales, and shareholder changes across leading Malaysian companies. Property & Construction UEM Sunrise (KL:UEM) The Federal Court has dismissed UEM Sunrise’s appeal to challenge the Inland Revenue Board’s RM8.49 million additional tax assessment. The ruling reverses a previous Court of Appeal decision that allowed its subsidiary UEM Land Bhd to pursue judicial review and defer payments. 📌 Impact: Negative sentiment due to final legal loss and potential cash outflow. S P Setia (KL:SPSETIA) Partnering with Japan’s Mitsui Fudosan to develop a RM1.3 billion residential project in Semenyih , under Setia MF EcoHill Sdn Bhd . The first phase will launch in 2026 . 📌 Impact: Positive for long-term earnings visibility and foreign JV credibility. Tropicana ...