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Market Daily Report: Bursa Malaysia Closes Higher On BNM’s OPR Decision, Wall Street Gains

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.
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Japan's Wholesale Inflation Hits 4%, Keeping BOJ Rate-Hike Bets Aliv

Japan’s wholesale inflation  surged to  4.0%  in February, driven by rising raw material costs, keeping  market expectations  alive for a potential  interest rate hike  by the  Bank of Japan (BOJ) . Key Highlights: Corporate Goods Price Index (CGPI) : The rise in the  CGPI , which tracks the price companies charge each other for goods and services, matched market forecasts. Although it was a slowdown from January’s  4.2%  year-on-year increase, it remains elevated. Yen-based Import Prices : The  yen-based import prices  dropped by  0.7%  in February compared to the previous year, reversing the  2.3%  increase in January. Bank of Japan’s Position : Monetary Policy : Following the end of a  decade-long monetary stimulus  in 2024, the BOJ raised  short-term interest rates  in January to  0.5%  from  0.25% , signaling its confidence that Japan is on track to sustainably re...
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US Import Prices Experience Largest Drop in Eight Months, Signaling Easing Inflation

US import prices fell by the most in eight months in August, driven by lower costs across a wide range of goods. This decline suggests that domestic inflation is likely to continue to subside in the coming months. According to the Labor Department report released on Friday, the decrease in import prices aligns with recent data showing only mild increases in producer and consumer prices in August, despite persistent underlying inflation. With price pressures easing, the Federal Reserve has shifted its focus to the labor market, which has slowed significantly from last year’s robust growth. "The inflation flare-up early in the year is no longer evident in the prices of imported goods coming into the country, which is another reason to believe that the balance of risks has shifted for Fed officials back to downside risks for the economy and labor market," said Christopher Rupkey, chief economist at FWDBONDS . Import prices fell 0.3% in August , marking the largest decline ...
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