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.
Profit Miss Sparks Downgrades Poh Huat Resources Holdings Bhd (KL:POHUAT) saw its stock tumble on Friday after reporting quarterly results that fell short of market expectations. Net profit for the nine months ended July 31 came in at just about half of analysts’ full-year forecasts. The shortfall prompted TA Securities to downgrade the counter to sell , while Public Investment Bank ceased coverage altogether. Tariff Pressures Weigh on Outlook The weaker performance comes amid uncertainty in the US furniture market , Poh Huat’s key export destination. Analysts flagged the ongoing US government investigation into furniture imports , which could worsen existing reciprocal tariffs already affecting demand. “Furniture exports to the US are already under tariff pressure, and demand is expected to stay subdued,” TA Securities said. Stock Performance Shares of Poh Huat fell as much as 6% to 94 sen , giving the company a market value o...