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.
Chinese stocks extended gains after a volatile start to the week, buoyed by the government's promises of fiscal support. The CSI 300 Index rose by as much as 2.4% , reversing early losses after capping its worst week since late July on Friday. A Bloomberg Intelligence gauge of Chinese developers also surged by over 3% , reflecting cautious optimism among traders. Despite the absence of a specific fiscal stimulus figure, Finance Minister Lan Fo'an hinted at new steps to bolster the struggling property sector, alongside suggestions of increased government borrowing. This has raised expectations for more revved-up fiscal spending , which analysts see as critical for sustaining the stock market rally sparked by the central bank’s stimulus measures in late September. Economists at HSBC, including Jing Liu, noted that while no large stimulus number was provided, the press conference still came as an "upside surprise," reinforcing expectations that the policy shift will...