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.
Hangzhou Arcvideo Technology Co., Ltd. (SHSE:688039) shares have soared 34% in the past month , bringing the stock’s annual gain to an impressive 96% . Valuation in Focus: The company’s price-to-sales (P/S) ratio stands at 16.4x , more than double the median of China’s software industry (~7.7x). Such a high valuation raises questions, especially as revenue fell 14% last year and is down 31% over the past three years . Why Investors Are Paying Up: Despite recent revenue declines, analysts expect a sharp turnaround, forecasting 62% revenue growth over the next year , compared to the industry’s projected 24% . This anticipated rebound appears to justify the premium P/S multiple. Investor Sentiment: The recent rally suggests investors are betting on a revenue recovery and are willing to hold despite the company’s historical declines. With expectations running high, any miss in growth could put pressure on the stock. Summary: ...