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.
The Malaysian building material sector saw mixed price trends in June , with steel prices softening in many areas while cement costs crept upward across the board. Steel Prices: Sliding Downward Month-on-month , steel prices fell between -1.0% to -3.1% . Biggest drops: Pahang : -3.1% Sibu : -2.5% Pulau Pinang, Kedah & Perlis : -2.1% Bucking the trend: Selangor, KL, Melaka & Negeri Sembilan : +0.4% Miri : +0.3% Year-on-year , steel prices were down -5.1% to -15.5% compared to June 2024. Average steel price (mild steel + Mycon 60): RM3,480.10/MT in June, up slightly from RM3,476.75 in May. Cement Prices: Small but Steady Gains Month-on-month , cement prices rose 0.1% to 0.2% in all regions. Year-on-year , prices increased 0.3% to 3.7% , with top performers: Johor : +3.7% Tawau : +3.6% Pulau Pinang, Kedah & Perlis : +2.5% Average price of Ordinary Portland Cement : RM23.80 per 50kg bag in June, up from RM23...