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.
Investors are turning to cash, India, China's markets, and Singapore dollars as they brace for the impact of the upcoming US presidential election on global financial flows. As Asia is highly sensitive to changes in US trade policies, many money managers are steering clear of risky bets and focusing on reducing exposure to vulnerable sectors, such as Japanese manufacturers and Hong Kong stocks . Jon Withaar of Pictet Asset Management highlights China as a stable market with domestic drivers that may be less affected by global movements, while Nick Ferres of Vantage Point Asset Management is staying cautious, maintaining short positions on the yen and focusing on Japanese stocks . With Republican candidate Donald Trump currently leading in betting odds, investors anticipate inflationary pressures and rising interest rates under a potential Trump administration. Meanwhile, India's strong domestic growth and limited exposure to global trade risks make its markets appealing. ...