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.
Just as signs of stability were emerging in the UK property sector earlier this year, momentum has faltered once again . Latest data from Nationwide Building Society shows that UK house prices dropped to their lowest level in over two years in June , surprising economists who had expected a modest rebound. The renewed weakness reflects a confluence of policy missteps and persistent affordability challenges , raising fresh doubts about the near-term trajectory of the housing market. What Triggered the Latest Downturn? June home prices fell unexpectedly , derailing optimism from early 2025. Economists had forecast a slight increase, citing easing inflation and improving sentiment. The surprise decline followed the UK government’s April hike in transaction taxes (stamp duty) , which increased upfront costs for buyers across all segments. Market Dynamics: Pressure Across the Board The weakness is not limited to first-time buyers or the mass market. According to real ...