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.
Thailand's household debt has seen a minor reduction in the second quarter as banks implemented stricter lending practices to manage bad loans and borrowers stepped up debt repayments amidst the highest interest rates in a decade. As of June, household debt, as a percentage of the country's Gross Domestic Product (GDP) , stood at 89.6% , down from 90.7% in the previous quarter. This equates to a total liability of 16.32 trillion baht ($507 billion) , slightly decreased from 16.36 trillion baht in the first quarter, according to data released by the Bank of Thailand . More than 75% of this household debt is attributed to loans for personal consumption and mortgages. Government Initiatives for Debt Restructuring Prime Minister Paetongtarn Shinawatra has committed to implementing a comprehensive debt restructuring plan to address the ongoing household indebtedness as her new administration introduces measures aimed at stimulating Thailand’s sluggish economy. The central bank ...