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 • Malaysia’s 2Q earnings season came in better than feared, prompting analysts to lift KLCI targets. • RHB Research raised its year-end KLCI forecast to 1,620 points, citing fiscal support, ringgit strength, and easing tariff risks. • CIMB Securities flagged resilient dividends and sectoral growth in REITs, plantations, transport, and gaming despite aggregate earnings pressure. • MBSB Research maintained a 1,650-point KLCI target, pointing to inexpensive valuations and potential foreign inflows as Fed rate cuts resume. Equities The FBM KLCI has rebounded nearly 13% from April lows during the peak of global tariff uncertainty, trimming its year-to-date decline to about 3%. RHB Research raised its year-end KLCI target to 1,620, underpinned by fiscal and monetary measures, robust domestic liquidity, and stronger ringgit inflows. Bloomberg data shows the consensus bottom-up target has also improved, now at 1,767 points compared with 1,751 previously. CIMB Securities described...