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 manufacturing activity dropped to its lowest in five months in July, reflecting the struggles of factories dealing with declining new orders and reduced prices, according to an official survey released on Wednesday. The National Bureau of Statistics (NBS) reported the purchasing managers' index (PMI) at 49.4, slightly down from 49.5 in June and below the 50-mark that indicates growth, though marginally above the Reuters poll forecast of 49.3. Key Highlights: Continued Contraction: The PMI contracted for the third consecutive month, signaling ongoing challenges for China's $18.6 trillion economy, which saw slower-than-expected growth in Q2. Demand and Prices: Both new orders and new export orders sub-indices contracted again in July. Employment and factory gate prices also remained negative. Economic Sentiment: Domestic demand is weakening, and external trade tensions are impacting sentiment among manufacturers. Policy Response: There are signals from Chinese lea...