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.
China has announced plans to expand its support for unfinished property projects to four trillion yuan ($562 billion) , a significant increase from the 2.23 trillion yuan already deployed. This move aims to stabilize the country’s struggling real estate sector, which has been a key concern for the world's second-largest economy. Housing Minister Ni Hong revealed the measure at a briefing on Thursday. This expansion comes as part of broader efforts by the Chinese government to achieve its 5% economic growth target for 2024. In September, China unveiled a series of initiatives to revive the property sector , including lowering borrowing costs on $5.3 trillion worth of mortgages and relaxing rules for second-home purchases . The "white-list" programme , designed to ensure unfinished homes are completed and delivered to buyers, has already deployed 2.23 trillion yuan to support these projects. Many homebuyers have protested over incomplete construction across the count...