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: Japan’s core machinery orders fell unexpectedly by 0.7% in September , signaling a pause in recovery, though growth is anticipated in the coming quarter. September Highlights Month-on-Month Decline: Core machinery orders dropped 0.7% , missing economists’ expectations for a 1.9% increase . This marks the second consecutive monthly decline . Year-on-Year Decline: Orders fell 4.8% YoY , sharply underperforming forecasts of a 2.2% rise . Sector Performance: Manufacturers: Orders were flat month-on-month. Non-Manufacturers: Orders rose 1.5% , showing resilience in some areas. Economic Outlook Government Stance: The Cabinet Office maintained its assessment that the recovery is pausing . Quarterly Projections: Machinery orders are expected to grow 5.7% in Q4 2024 , indicating potential improvement in capital spending. Implications Core machinery orders, a volatile but critical gauge of capital expenditure over the next 6-9 months, reflect uncertainty in Japan’s economic re...