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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.

Altcoins on the Rise: Analyst Predicts 'Onwards and Upwards

As the cryptocurrency market navigates the impact of  inflation data  and shifting Federal Reserve expectations,  altcoins  are emerging as standout performers. Here's what you need to know about the current market trends and top gainers. Cryptocurrency Market Snapshot (as of 7:30 p.m. ET): Bitcoin (BTC) : Dropped  0.59%  to  $100,315.71 , after briefly hitting  $102,250  earlier in the day before a sharp sell-off. Ethereum (ETH) : Climbed  1.89%  to  $3,900.97 , maintaining upward momentum. Dogecoin (DOGE) : Slid  0.80%  to  $0.4088 . What Happened: Bitcoin's early surge followed  President-elect Donald Trump’s positive remarks  about cryptocurrencies, but profit-taking reversed the gains. Ethereum  showed resilience, hitting an intraday high of  $3,986  before settling lower. Liquidations in the cryptocurrency market exceeded  $318 million  in the past 24 hours, with  $20...

Trump’s Vision: Transforming the US into a Crypto Epicenter

Chris Brummer,   Bluprynt CEO ,   DC Fintech Week Founder , and   Georgetown University Professor , weighed in on former President Donald Trump’s pledge to position the   US as a global crypto hub , including the potential introduction of a   crypto czar   in the White House. Key Highlights Role of a Crypto Czar : Designed to  coordinate crypto regulations  across agencies like the  SEC  and the  Treasury Department . Aims to bring  clarity  to the industry, both in terms of  rules  and how companies  comply  with them. Regulatory Landscape : Emphasis on creating  "fit-for-purpose" rules  tailored to the evolving crypto market. Existing frameworks like  AML  (Anti-Money Laundering) and  KYC  (Know Your Customer) are expected to dominate discussions, alongside new  disclosure requirements  for firms. Clarity vs. Enforcement : The  crypto industry  has lon...