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.
S&P Global Ratings has given a vote of confidence to President Donald Trump’s tariff strategy, affirming the US’s AA+ long-term credit rating with a stable outlook. The agency said tariff revenues are helping offset the fiscal impact of Trump’s tax and spending cuts , providing some relief to the nation’s balance sheet. Key Points from S&P Tariff revenues are rising: US customs duties hit a record US$28 billion in July , and Treasury Secretary Scott Bessent now projects 2025 tariff receipts could exceed 1% of GDP . Fiscal position stable: While government debt is expected to surpass 100% of GDP in the next three years, S&P believes the deficit will average 6% of GDP from 2025–2028 , down from 7.5% in 2024. Stable outlook: S&P does not expect US fiscal health to improve dramatically, but it also doesn’t expect persistent deterioration in the near term. Market Reaction Bond yields: Th...