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.
Levi Strauss announced on Wednesday that it is considering a sale of its underperforming Dockers brand , prompting its shares to fall 10% in extended trading . The move comes as the company seeks to focus on growing its core Levi's brand and its activewear line, Beyond Yoga . "We are narrowing our focus to realise the full potential of the Levi's brand and accelerate Beyond Yoga. As a result, we are evaluating strategic alternatives for the Dockers business," said CEO Michelle Gass during the post-earnings call. The company has retained Bank of America as its financial adviser for the strategic review of Dockers, which saw a 15% decline in sales in the third quarter. Dockers contributed about 5% to Levi’s total quarterly revenue of US$1.52 billion , which missed analysts' estimates of US$1.55 billion . Despite the underperformance of Dockers, Levi’s direct-to-consumer channel saw 10% growth , driven by strong demand for women's denim clothing. Levi expe...