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 US dollar strengthened this week, with an index tracking its performance poised for the biggest weekly gain in nearly six months . This surge is driven by reduced expectations for aggressive US interest rate cuts . Meanwhile, Treasuries remained flat in Asian trading, following Thursday’s selloff that pushed yields to levels not seen since September. West Texas Intermediate (WTI) and Brent crude steadied after rising more than 5% on Thursday, hitting a one-month high . These gains came after comments from President Joe Biden , who mentioned that the US is considering support for potential Israeli strikes on Iranian oil facilities . Investors are worried that such strikes could lead to supply disruptions , especially with the ongoing conflict between Israel and Hezbollah . In the currency markets , the yen strengthened while the British pound remained stable after sharp declines. The South Korean won weakened as local markets reopened following a holiday. In China , a stim...