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.
Xinyi Solar Holdings Ltd (968.HK), a key player in the renewable energy sector, has caught the market’s attention with bullish technical signals and solid fundamentals. According to Bloomberg’s consensus, the stock has a target price of HKD 3.05 , representing a 10.5% upside from its current price of HKD 2.76 . Technical Outlook: Breakout Confirmed, MACD Bullish Crossover in Place Xinyi Solar has broken out of a prolonged consolidation range with increasing volume and positive momentum. Both the 20-day and 50-day EMAs are narrowing, hinting at a potential bullish crossover. Additionally, the MACD has crossed above the signal line, reinforcing a short-term upward momentum. Key Support & Resistance Levels: Resistance: R1 = 2.90, R2 = 3.20 Support: S1 = 2.54, S2 = 2.45 Fundamental Strength: Long-Term Growth with Steady Dividends As a global manufacturer of solar glass and renewable energy components, Xinyi Solar continues to demonstrate long-term growth potentia...