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 Takeaway: Standard Chartered has seen a wave of resignations from its corporate finance division in India and Singapore, as dealmaking activity intensifies and rival firms seek talent. Standard Chartered Plc is facing significant departures from its financing and credit teams across India and Singapore, with four bankers in India and two in Singapore leaving in the past six months. Notable exits include Karan Maroo and Vikash Bihani in Mumbai, as well as Jay Sheth in Singapore. Bihani recently joined Mashreqbank PSC as head of investment banking, following a 15-year tenure at Standard Chartered. The departures come amid a global restructuring led by CEO Bill Winters , aiming to integrate the bank’s credit markets and mergers advisory teams. This restructuring aligns with Standard Chartered's focus on increasing relationship managers in India to expand wealth management, particularly targeting smaller towns. Despite these changes, Standard Chartered remains a leading pl...