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.
Malaysia is preparing a return to the US dollar bond market for the first time since 2021, as tightening spreads and buoyant global credit conditions open a window for sovereign fundraising. The Finance Ministry has sent requests for proposals to banks for a potential dollar bond offering, primarily to refinance dollar bonds maturing this year , according to a ministry spokesperson. If executed, the deal would mark Malaysia’s first US-dollar issuance since raising US$1.3 billion in 2021. Why Now The timing reflects favourable market conditions. Spreads on Asian dollar debt tightened to record lows last week , echoing a strong global credit rally that has fuelled one of the busiest starts to a year for bond issuance since 2007. Malaysia’s macro backdrop has also improved, with Q4 GDP expanding 5.7% year-on-year , lifting full-year growth above official estimates. Malaysia carries an A- sovereign rating from S&P Global Ratings , providing fur...