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.
Oil prices began the week on a positive note, buoyed by expectations of further US policy support for global economic growth following cooling inflation data. Brent crude futures rose by 0.4% to $73.20 per barrel , while US West Texas Intermediate (WTI) crude futures climbed 0.5% to $69.77 per barrel by early trading on Monday. Drivers of the Oil Price Recovery Cooling Inflation : US inflation data showed signs of easing, alleviating concerns about the Federal Reserve's hawkish stance and raising hopes for further policy support in 2025. US Senate Action : Legislation passed by the US Senate to avert a government shutdown over the weekend added to market optimism. European Supply Stability : The Druzhba pipeline, a major conduit for Russian and Kazakh oil to Europe, resumed operations after a brief technical halt, easing supply concerns. Challenges for Oil Markets China's Oil Demand Forecast : Research from Sinopec indicated that China's oil consumption is ...