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.
Asian currencies surged on Wednesday as China's new stimulus measures boosted investor confidence. The Thai baht reached a 30-month high, rising 0.9% , and has gained approximately 11% this quarter. This rapid appreciation is putting pressure on Thailand's central bank to intervene, potentially cutting interest rates to maintain trade competitiveness and protect the tourism sector . The rally in the baht, one of Southeast Asia's top performers this year with a 4.6% increase , is driven by political stability , foreign inflows , and record-high gold prices . However, concerns are growing about its impact on exporters , leading to calls for the Bank of Thailand to address the currency's strength. The Thai finance ministry and central bank are set to meet next week to discuss these issues and the country's inflation target. Other Asian currencies also saw gains. The Malaysian ringgit appreciated by 1.1% to 4.105 per US dollar , its highest level since June 2021,...