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.
Singapore’s financial powerhouses—DBS, UOB, and OCBC—are accelerating their expansion into RMB cross-border settlements , positioning themselves as regional leaders in Asia’s rising RMB payment ecosystem, driven by China’s Belt and Road Initiative (BRI) and the global momentum behind RMB internationalization. RMB Payment Volumes Hit Record Highs In 2024 , China's Cross-Border Interbank Payment System (CIPS) handled over RMB 175 trillion , marking a 42.6% YoY increase , underscoring the growing relevance of RMB as a global settlement currency . This surge aligns with a broader trend of de-dollarization , further incentivizing regional financial institutions to deepen RMB infrastructure capabilities and tap into the expanding RMB payment corridor . Singapore’s Big Three: Strategic Integrations with CIPS DBS Leads the Charge in RMB Clearing First Singaporean bank to become a direct CIPS participant . Achieved...