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.
Sharpest Drop Since 2021 as Economic Pessimism Spreads US consumer confidence fell 7 points in February to 98.3 , marking the third consecutive decline and the largest drop since August 2021. The report, released by The Conference Board , showed worsening perceptions of labor conditions, future incomes, and business outlook . Stocks and bond yields declined following the data , as recession fears intensified . Consumers Cutting Back on Major Life Plans A Wells Fargo study found over half of Americans are delaying major financial decisions , citing economic uncertainty and Trump’s tariff threats . Key postponements include : Home purchases (one-third of respondents) Education plans (one in six) Retirement plans (one in eight) Wall Street Selloff Deepens The Magnificent 7 stocks tumbled into correction territory , with a $1.6 trillion market value loss since December. Tesla led the declines, plunging...