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 Takeaways: Global Economic Concerns : Asian stocks dropped on Friday, closing the week on a subdued note as deepening geopolitical tensions and fears of the U.S. tariffs’ impact on global growth weighed heavily on investors. This uncertainty kept gold near record highs, with traders seeking safe-haven assets. Central Banks Hold Steady : The U.S. Federal Reserve, Bank of Japan (BOJ), and Bank of England all opted to maintain their interest rates this week, reflecting the cautious stance of policymakers amid growing global economic uncertainty, largely driven by U.S. trade policies under President Trump. Rising Geopolitical Tensions : Israeli airstrikes on Gaza and Ukrainian drone strikes on Russian military sites heightened global tensions, pushing investors towards safer investments like gold. Focus on U.S. Tariffs : Investors are particularly on edge ahead of the U.S. administration’s planned tariff hikes on April 2. These reciprocal tariffs could further escalate inflation ...