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.
China’s central bank moved to shore up the yuan on Thursday, setting its daily reference rate well below analyst forecasts after the currency slid to a two-month low against the U.S. dollar. Key Points: Stronger Fixing: The People’s Bank of China (PBOC) set the yuan’s reference rate around 7.15 per dollar , the biggest divergence from market estimates since April. Market Reaction: The offshore yuan rebounded 0.2% to 7.1993 , after touching its weakest level since early June. Dollar Surge: The move came as the U.S. dollar hit a two-month high, driven by stronger U.S. trade deals and Fed Chair Jerome Powell’s hawkish comments on interest rates. Regional Moves: Monetary authorities in Indonesia and Hong Kong also intervened to defend their currencies as the greenback’s rally pressured Asian FX markets. The yuan and Singapore dollar remained relatively resilient compared to other regional peers. Why It Matters: The PBOC is balancing...