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.
In the past, the US Federal Reserve (Fed) had a dominant influence on global monetary policy, but today, central banks across the world are taking divergent paths. The post-pandemic global economy has become fragmented, with inflation, growth, and monetary policies varying widely between major economies. This shift signals a decline in America's economic influence on the global stage. While the Fed has been slow in reacting to inflation and rate adjustments, other central banks, like those in Europe and China , are acting independently. For instance, the European Central Bank and Bank of England started lowering rates ahead of the Fed, while China and Japan are pursuing different economic strategies focused on stimulating growth or managing inflation. The yen’s volatility highlights the consequences of these divergent paths. The yen surged and fell dramatically throughout the year as the Bank of Japan and the Fed made different monetary moves. This currency volatility has...