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.
RHB Research has revised its earnings forecasts for YTL Power International Bhd for the fiscal years 2025 to 2027, cutting projections by 5% to 6% due to the strengthening ringgit against major currencies such as the US dollar , Singapore dollar , and British pound . These currencies are crucial to PowerSeraya and Wessex Water , which are key contributors to YTL Power's income. As a result, RHB has lowered its target price for YTL Power from RM5.94 to RM5.68 , while maintaining its "buy" call . PowerSeraya and Wessex Water accounted for 68% and 23% of YTL Power's total revenue in FY2024, but their income is expected to be impacted by the stronger ringgit. Additionally, YTL Power's exposure to the US dollar will likely increase with the upcoming commercialization of its artificial intelligence data center (AI-DC) . While colocation services revenue will be in both MYR and USD , AI-DC's costs are expected to be largely in USD. RHB maintained a positi...