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.
Shell plc posted a second-quarter adjusted net income of US$4.26 billion , down 32% from last year but above analyst expectations of US$3.74 billion. The results come after a turbulent quarter marked by US tariffs, Opec+ production shifts, and a brief Middle East conflict that drove crude prices 10% lower. Key Highlights: Adjusted Net Income: US$4.26B (vs. US$6.29B YoY; beat est. US$3.74B) Cash Flow from Operations: US$12.3B (consensus: US$10.1B) Share Buybacks: Maintained at US$3.5B for the quarter Net Debt: US$43.2B (up from US$41.5B in Q1) Structural Cost Cuts: Additional US$800M in H1; US$3.9B since 2022 Market Impact: Shell’s London-listed shares rose 2.7% following the earnings beat and continued commitment to buybacks. CEO Commentary: CEO Wael Sawan credited disciplined cost-cutting and operational reliability, saying, “That’s 15 quarters in a row delivering US$3B+ per quarter in buybacks — that’s key for us.” Howe...