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 The Japanese yen has fallen to its weakest level since 1986 , despite rising domestic bond yields, breaking a long-standing market relationship. Mizuho believes traditional interest rate models are no longer reliable for forecasting the yen's direction in the current environment. Markets are watching the 163 yen-per-US dollar level , with expectations that Japanese authorities may tolerate further weakness before intervening. Changes in global capital flows and hedging behaviour are becoming more influential than interest rate differentials. A weaker yen supports Japanese exporters but increases inflationary pressure through higher import costs. Market Overview The Japanese yen continues to trade near its weakest level in four decades, prompting market participants to reassess one of the most widely used methods for forecasting currency movements. According to Mizuho Bank , the traditional relationship between Japan-US interest rat...