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.
Chinese stocks surged on Monday, with the CSI 300 Index closing up 1.9% , marking its best performance in nearly a week. The rally came after Beijing reiterated its commitment to supporting the economy with new fiscal measures, although specific details, including a headline number, were absent. Despite early volatility, the market showed signs of cautious optimism. Finance Minister Lan Fo’an hinted at further government borrowing and new steps to support the property sector during a Saturday briefing, although the lack of a concrete figure left investors waiting for more specifics. Analysts and traders are closely monitoring fiscal policies, expecting sustained support from increased fiscal spending , which has been key in maintaining market momentum following the central bank’s stimulus actions in late September. According to a note from HSBC Holdings Plc , the government’s policy pivot is expected to stay in place, boosting market confidence. The stock market rally, however, re...