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 FBM KLCI fell by 4.78 points or 0.3% as Budget day 2017 draws closer and speculators are looking at a possible early election in the country as well. The KLCI closed at 1,664.72 points as at closing. FBM KLCI fell by 4.78 pts as Budget day 2017 draws closer The market has been heading south throughout the day in general with the benchmark falling to as low as 1,661.58 before recovering towards the closing. There have been speculation that the upcoming budget 2017 in the country will be an election budget, creating anxieties and uncertainties on the initiatives that the government could implement. Analysts and fund managers are expecting the market to be fluctuating in the short and mid-term according to the report by theedgemarkets.com. Unlike Malaysia, Asian shares have shown slight recovery. Bursa Malaysia saw a rather low volume today with 1.49 billion shares traded, worth about RM1.85 billion. British American Tobacco (M) Bhd lead the gainers today while U...