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.
Key Takeaway: G20 leaders have reached a consensus on voluntary climate finance contributions from developing nations, marking progress but leaving challenges unresolved ahead of COP29 and COP30. Highlights from the Rio Summit Voluntary Contributions Agreed: G20 leaders finalized a statement early Sunday acknowledging voluntary contributions from developing nations to climate finance. The agreement stops short of mandatory obligations , reflecting compromises between wealthy and developing nations. Focus on Climate Finance: Economists estimate that at least $1 trillion annually is needed to fund climate efforts in developing countries. Wealthy nations are pushing for richer developing countries, such as China and Middle Eastern oil producers , to contribute more. Broader Context G20's Role in Emissions: G20 countries account for 85% of global GDP and 80% of global emissions , placing them at the center of climate action. UN Secretary-General António Guterres called on G20 lead...