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.
Public Offering Triggers Sell-Off SoFi Technologies (SOFI) shares slid over 8% in after-hours trading Tuesday after the company announced a $1.5 billion public offering of common stock . The deal also includes a 30-day option for underwriters to buy an additional 15% of shares, signaling potential dilution for existing shareholders. Strong Quarter Overshadowed The sell-off came just hours after SoFi reported better-than-expected Q2 earnings and raised its full-year outlook. Key highlights include: Revenue up 44% YoY Fee-based revenue surged 72% Members grew 34% to 11.7 million 2025 revenue guidance raised to $3.38 billion 2025 EPS forecast increased to $0.31 SoFi ended the quarter with $2.12 billion in cash , underscoring its solid balance sheet. Why Investors Reacted Bearishly Despite the strong fundamentals, the announcement of a large share sale often pressures stock prices due to concerns about dilution and timing. Investors may also be questionin...