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.
Indian sovereign bonds that were recently included in JPMorgan Chase & Co’s emerging-market bond index experienced their first weekly outflow since the inclusion in June. According to Clearing Corporation of India data, overseas investors sold 16.8 billion rupees (US$200 million) worth of Fully Accessible Route (FAR) bonds last week, marking the largest outflow since May 10. The outflow is modest when compared to the average weekly inflow of US$570 million since the index inclusion, according to Morgan Stanley. However, it underscores the impact of uncertain Federal Reserve interest rate expectations and elevated crude prices due to geopolitical tensions. Naveen Singh, head of trading at ICICI Securities, attributed the outflows to the unwinding of total return swap trades amid changes in Fed rate expectations and a pullback in US yields. Although India's recent inclusion in FTSE Russell and Bloomberg emerging market indexes from January 2025 is expected to have a lim...