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.
The Madani Government has demonstrated its commitment to addressing the cost-of-living challenges faced by Malaysians through an enhanced Sumbangan Tunai Rahmah (STR) initiative. With an allocation increase to RM13 billion in Budget 2025, up from RM10 billion previously, this marks the largest funding boost for STR to date. Supporting Households Amid Rising Costs Economist Prof Dr Barjoyai Bardai from Malaysia University of Science and Technology emphasized the importance of STR in easing financial burdens for households. While the aid may not cover the full cost of living for families—estimated at over RM3,000 monthly—it provides meaningful support to supplement household incomes. Sustainable Aid Mechanism Proposed Barjoyai suggested creating an endowment fund through a social security institution capable of generating annual income. This mechanism would ensure sustainable STR funding, reducing reliance on annual government budgets. Expan...