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: CMSB (KL:CMSB) surged nearly 8% to RM1.29 , its highest level since July 28, after electricity was restored to its phosphate plant. The stock is on track for its third straight day of gains , with trading volume approaching 6 million shares by 9:30 am. Power reconnection enables completion of testing and commissioning activities at the Samalaju phosphate facility, a key step toward eventual commercialisation. Market Reaction Investors welcomed the development as a potential turning point for CMSB’s long-delayed phosphate operations. The reconnection resolves a critical bottleneck after more than two years of supply disruption due to a dispute with Sarawak utility firm Sesco. Investment Implications Positive sentiment driver: Restoration of power improves visibility for commercial operations and earnings contribution from the phosphate division. Risk factor: Arbitration proceedings with Sesco remain unresolved, meaning legal...