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 services sector expanded at its fastest rate since July, as the Caixin China services purchasing managers' index (PMI) rose to 52 in October from 50.3 in September. This private survey, which focuses on smaller private firms, outperformed expectations with a median forecast of 50.5. Key Highlights: Improved Consumer Demand : The rise in PMI suggests a potential rebound in consumer demand following Beijing's recent stimulus measures aimed at boosting economic growth. Sector Confidence : Businesses show confidence in short-term macroeconomic conditions, according to Wang Zhe, senior economist at Caixin Insight Group. Broader Economic Stability : Signs of recovery are visible across various sectors, including manufacturing and housing, with particular strength in domestic demand. Market Response : Following the release, the CSI 300 index rebounded, rising by as much as 1.2%. Since late September, Chinese policymakers have introduced significant economic support measure...