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.
AmInvestment Bank forecasts that palm oil prices will rally in 2025 , driven by a tight supply of edible oils and growing biodiesel demand. The research house has upgraded the plantation sector to “overweight” , with expectations that crude palm oil (CPO) prices will average 6.3% higher next year, around RM4,250 per tonne . Factors contributing to this positive outlook include: Supply shortages of competing oils like rapeseed and sunflower. Biodiesel demand growth and export restrictions in Indonesia. A potential dip in Malaysia’s output following a 2024 bumper harvest and labor shortages due to a foreign worker recruitment freeze . Currently, CPO prices have risen 33% year-to-date to nearly RM4,000 per tonne , supporting an 9% gain in the Bursa Malaysia Plantation Index. This contrasts with Malaysia’s official projection for CPO prices, expected to be between RM3,500 and RM4,000 in 2025 amid improved weather and labor availability. Further, EU deforestation regulations set for...