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.
Asian stocks pulled back from two-and-a-half-year highs on Tuesday, while the dollar firmed following comments from Federal Reserve Chair Jerome Powell that dampened expectations for aggressive interest rate cuts. Ongoing tensions in the Middle East also kept risk sentiment subdued. Oil prices remained steady, and gold traded just below a record high reached last week, as investors awaited US labor data for further clarity on the timeline for rate cuts. The MSCI's broadest index of Asia-Pacific shares outside Japan declined by 0.32% to 618.87 , retreating from the recent high of 627.66 reached on Monday. Nonetheless, the index is still up 17% for the year. Regional Market Movements Japan's Nikkei index climbed nearly 2% on the back of a weaker yen, recovering from a 4.8% drop the previous day due to the election of perceived monetary policy hawk Shigeru Ishiba as the new prime minister. Meanwhile, European stocks were poised for a higher open, with Eurostoxx 50 futures...