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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.

Japan Stocks Rally as Yen Tumbles Following Coalition Election Defeat

Japanese stocks surged on Monday as the yen dropped to a three-month low after Prime Minister Shigeru Ishiba's coalition lost its parliamentary majority in Sunday’s election. The outcome has raised uncertainty over Japan's future economic policies and potential political instability. Ishiba's Liberal Democratic Party (LDP) and its coalition partner, Komeito, secured only 215 seats in the lower house, falling short of the 233 needed for a majority. The LDP previously held 247 seats, with Komeito holding 32. The result has prompted concerns about possible power-sharing agreements and fractious politics ahead. Despite the political uncertainty, the Nikkei share average rose 1.45% to 38,463.50 , buoyed by a weaker yen, which benefits Japan's export-heavy economy. Earlier in the session, the index had climbed nearly 2% after opening 0.4% lower. The yen fell as much as 153.885 per dollar , its lowest since July 31, before stabilizing around 153.60 per dollar by 0230 GMT. ...

Japanese Stocks Rebound as Yen Weakens Amid Market Volatility

Japanese stocks experienced a rebound on Tuesday, supported by a weaker yen that boosted technology companies and automakers. The Nikkei 225 index rose as much as 1.9% , recovering from a nearly 5% slump the previous day following a leadership race within the ruling party. In contrast, Australian shares dipped, while markets in China and Hong Kong were closed for holidays. The yen's decline against the dollar was influenced by Federal Reserve Chair Jerome Powell , who indicated that the central bank is not in a hurry to cut interest rates, stating they would be lowered “over time” while maintaining that the overall economy is in solid shape. Economic Indicators and Political Developments Despite recent political uncertainty, traders are optimistic about the new leadership under Shigeru Ishiba , who is expected to be confirmed as Japan’s new prime minister on Tuesday. His call for a national election to consolidate power has been generally well-received. Meanwhile, Japan's Tan...

Dollar Retreats as Asia Stocks Remain Mixed Ahead of Fed Decision

  The US dollar gave up some of its overnight gains on Wednesday, while Asian stocks showed mixed performance as traders weighed the likelihood of a significant Federal Reserve (Fed) interest rate cut later in the day. The dollar fell sharply against the yen , giving back about a third of its rally from Tuesday, which was initially driven by unexpectedly strong US retail sales data that weakened the case for an aggressive Fed rate cut. The euro also recovered, regaining nearly all of its previous day's losses. Fed Rate Cut Expectations The probability of the Fed initiating its easing cycle with a substantial 50 basis point (bps) rate cut fluctuated throughout the Asian trading session. It fell to 63% early in the day, down from 67% on Tuesday morning, according to LSEG data . However, by 0137 GMT , the odds had risen again to 65% . Market Performance in Asia Japanese stocks were the standout performers in the region, with the Nikkei stock average climbing 0.72% to erase T...

Japanese Stocks Soar as Wider Markets Recover from Selloff

Japanese stocks experienced a significant rebound on Tuesday, leading a recovery across Asian markets after a historic selloff. Central bank reassurances helped calm investor nerves, leading to a positive turnaround in market sentiment. Key Market Movements Nikkei Index: The Nikkei surged over 8% , surpassing 34,000 in early trading. This sharp rebound follows a dramatic decline of 12.4% on Monday, marking the worst selloff since the 1987 Black Monday crash. Wall Street Futures: S&P 500 Futures: Increased 0.9% in early trade. Nasdaq Futures: Rose 1.2% . This comes after the S&P 500 and Nasdaq Composite fell 3.00% and 3.43% , respectively, on Monday. Market Analysis Central Bank Impact: Reassurances from Federal Reserve officials, including comments from San Francisco Fed President Mary Daly, have helped stabilize market expectations. Daly emphasized the importance of preventing a downturn in the labor market and signaled openness to potential interest rate cuts. Volatilit...