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 26 poorest countries in the world, which are home to 40% of the most poverty-stricken people , are now in more debt than at any time since 2006, and are increasingly vulnerable to natural disasters and other economic shocks, according to a new World Bank report released on Sunday. The report highlights that these economies are poorer today than they were before the Covid-19 pandemic , even as the rest of the world has largely recovered. This represents a significant setback in global efforts to eradicate extreme poverty . The study, released ahead of the World Bank and International Monetary Fund (IMF) annual meetings in Washington, emphasizes the World Bank’s efforts to raise US$100 billion to replenish the International Development Association (IDA) , which provides financing to the world’s poorest countries. The 26 nations in the study, with annual per-capita incomes below US$1,145 , rely heavily on IDA grants and low-interest loans as access to market financing has dim...