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: U.S. equities reversed early weakness to end Tuesday at fresh record highs, with investors betting that weaker labor data and large downward payroll revisions will accelerate the Federal Reserve’s rate-cut cycle. The S&P 500 gained 0.3%, the Dow Jones Industrial Average rose 0.4% to a record, while the Nasdaq 100 added 0.3%, just shy of a new peak. Market Performance S&P 500 : +0.3% to close at a record high. Dow Jones Industrial Average : +0.4%, also at a record close. Nasdaq 100 : +0.3%, narrowly missing a fresh record. Gains were led by Alphabet (GOOGL US) , after an executive projected a US$58 billion revenue boost in its cloud unit by 2027. Drivers: Jobs Revision and Fed Outlook The Bureau of Labor Statistics reported payrolls would be revised down by 911,000 jobs for the 12 months through March. This follows last week’s weaker labor market data, reinforcing expectations for a dovish Fed shift. Northlight Asset Management CIO Chris Zac...