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.
UK gambling stocks slumped on Monday following reports that Chancellor Rachel Reeves may be considering tax increases on the industry, potentially amounting to £3 billion . Shares in major gambling companies took significant hits: Entain plc (owner of Ladbrokes) fell as much as 15% . Rank Group plc (operator of Grosvenor casinos) dropped nearly 7% . Evoke plc (owner of William Hill) slid 16% . The report, first published by The Guardian , suggested that the UK Treasury is reviewing proposals from influential think tanks to double taxes on online casinos and bookmakers. While no final decision has been made, the changes could be announced in the upcoming budget. Analyst Reactions: Citibank Inc. analyst Monique Pollard noted that potential tax hikes could have a "material" impact on earnings for major players like Flutter and Entain . Jefferies analyst James Wheatcroft called the report "unrealistic," adding that the proposed changes would significantly er...