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Market Daily Report: Bursa Malaysia Closes Higher On BNM’s OPR Decision, Wall Street Gains

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.
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Asian Stocks Subdued as Fed Rate-Cut Bets Face Inflation Test

  Key Takeaways: Asian equities expected to open flat following a record close on the S&P 500. Focus shifts to upcoming  US CPI/PPI inflation data , critical for shaping Fed’s rate cut path. Oil extended gains after Israel’s strike in Qatar heightened Middle East risks. US jobs revision (-911k) reinforces slowdown concerns; Jamie Dimon warns of weakening economy. Market Snapshot Equity futures signaled a muted open in  Sydney, Tokyo, and Hong Kong , tracking Wall Street’s cautious optimism. The  S&P 500  hit another record close on Big Tech strength, though broader market breadth weakened. US Bonds:  Rally paused after a four-day run; yields edged higher. Oil:  Extended gains on geopolitical risk. FX:  Yen steady after reports BOJ may raise rates again this year despite political uncertainty. Fed in Focus: Inflation Data the Next Catalyst Money markets now  fully price in three Fed cuts by year-end , raising the stakes for this week’s...
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US Bond Selloff Deepens as Traders Scale Back Rate Cut Expectations

US bonds extended their losses, as strong labor-market data forced traders to reduce their expectations for aggressive Federal Reserve rate cuts. Treasury yields climbed, with key yields rising above 4% for the first time since August. The 10-year yield reached 4.03% , while the two-year yield jumped to 4.02% . Traders now see a reduced likelihood of rate cuts , with money markets pricing in less than 50 basis points of reductions by year-end. The chance of a 25 basis point cut in November has dropped to 80% , signaling a shift in sentiment from previous forecasts of more significant cuts. The strong September jobs data has reignited concerns of an overheating economy, potentially leading the Fed to maintain higher rates for longer. The bond market is adjusting to this new reality, with futures positioning and options market activity reflecting the likelihood of only a small cut. Economists from Citigroup and Goldman Sachs noted that the jobs report has accelerated discuss...
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