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.
C hina's Brokerage Industry Reshaped by Mega Merger China International Capital Corp (CICC) and China Galaxy Securities to merge , forming a financial giant with $193 billion (¥1.4 trillion) in assets . The deal, backed by Chinese authorities, will be executed via a share swap and is expected to be announced in the coming weeks. Market & Industry Impact CICC shares surged 8% and China Galaxy soared 10% in Hong Kong following the merger news. The merged firm will surpass Huatai Securities , becoming China’s third-largest brokerage , after Citic Securities and the Guotai Junan-Haitong Securities merger . China's $1.6 trillion securities industry is undergoing consolidation , with Beijing pushing for stronger domestic investment banks to compete with global giants like Goldman Sachs and Morgan Stanley . Regulatory & Economic Context The merger aligns with China’s financial sector reforms , encouraging consolidation to create 10 leading inst...