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.
China's central bank is expected to implement its most significant interest rate cuts in a decade next year as policymakers work to counter economic headwinds, including weak domestic demand, deflation, and the potential impact of US tariffs under President-elect Donald Trump. Key Projections: Rate Cuts Expected : Goldman Sachs and Morgan Stanley predict a 40-basis-point reduction in the People's Bank of China (PBOC) policy rate in 2025, lowering the seven-day reverse repo rate to 1.1%. Economists’ Views : Some analysts, like Mizuho Securities, forecast even deeper cuts of up to 60 basis points in lending and policy rates. Economic Context: Deflation Concerns : China faces its longest deflation streak this century, keeping real borrowing costs high despite rate cuts. Trade Pressures : A potential resurgence of US-China trade tensions could further strain exporters, compounding economic difficulties. Growth Challenges : The GDP deflator, a broad price measure, remains below zero...