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.
Singapore’s grocery retail sector continues to display resilience, with RHB keeping its “Overweight” rating on retail staples, citing steady earnings, defensive positioning, and reliable dividend payouts. Sector Outlook Resilient earnings underpinned by defensive demand. Supermarket sales averaged 127 index points (Jan–Jun 2025) , above the 2024 average of 124. Growth supported by stronger consumer demand and new public housing developments. Estates like Kranji could open long-term expansion opportunities, particularly for Sheng Siong, given its track record of aligning with HDB launches. Top Picks Sheng Siong (SGX: OV8) Earnings CAGR: Projected at 10% through FY2027 . 1H25 performance: Stronger revenue and improved margins prompted RHB to raise forecasts. Store expansion: New outlets now average 8,500 sq ft , larger than the earlier 6,000 sq ft estimate — boosting leverage and margin potential. Valuation: Trading a...