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.
Cindy Lui , a former equity sales trader at Citigroup Inc , has won her case for unfair dismissal in Hong Kong’s Labour Tribunal. The court ruled that the US bank failed to justify Lui’s summary dismissal in 2019. Background of the Case Lui, who served as a vice-president at Citigroup for 12 years, was part of a Hong Kong-based team accused of misrepresenting trading positions to clients. Regulators in Hong Kong had identified “pervasive dishonest behaviour” in Citigroup’s Asian markets division, leading to a HK$348.3 million fine in 2022. Citigroup terminated Lui for alleged misrepresentation of trades and misleading its investigations team. This dismissal resulted in Lui losing HK$2 million in pension benefits and her 2018 bonus. Key Tribunal Findings The tribunal found that while Citigroup had valid reasons for dismissal due to trade misrepresentation, there wasn’t sufficient evidence of fraud or dishonesty to warrant summary dismissal, which is consider...