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.
Alibaba (BABA.US) shares have come under pressure, declining nearly 30% since October highs and about 6% year-to-date , as investors turn cautious ahead of its upcoming fiscal third-quarter earnings. Weak Earnings Outlook Clouds Sentiment Alibaba is expected to report results this week, with consensus estimates pointing to US$42.2 billion in revenue and US$1.59 earnings per ADR . While revenue is projected to grow over 9% year-on-year , profitability tells a different story. Earnings are expected to drop sharply by 46% , reflecting margin pressures and a more challenging operating environment. Notably, analyst sentiment has deteriorated , with 11 out of 15 analysts cutting earnings forecasts during the quarter, and none revising estimates upward — a clear sign of weakening confidence. Technical Signals Mixed but Improving From a technical perspective, Alibaba’s chart suggests a market in transition. The stock initia...