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 Takeaway: Japanese and Chinese investors sold a combined $113.2 billion in US Treasuries during Q3 2024, signaling concerns over inflationary policies and geopolitical risks tied to President-elect Donald Trump's impending administration. Ahead of the US presidential election, Japanese investors sold a record $61.9 billion , while Chinese funds offloaded $51.3 billion of US government debt, according to US Treasury data. The moves came as Treasury yields peaked in September and concerns grew over Trump’s low-tax, high-tariff policies , which are expected to fuel inflation and higher yields . Key Drivers Behind the Sell-Off Pre-Election Uncertainty: Both countries reacted defensively to election risks, with Japan’s sales driven by fears of a Trump win and China responding to geopolitical tensions . Yield Concerns: Treasuries dropped 4% since mid-September due to expectations of higher US yields under Trump’s fiscal policies. Currency Interventions: Japan’s sales were par...