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's largest stimulus package in years has buoyed the commodities market , particularly iron ore, copper, and zinc , as investors anticipate the potential for further gains when mainland markets reopen on Tuesday . The measures, aimed at reviving the property market , have sparked optimism among industry delegates attending LME Week in London, though some analysts caution it may be too soon for celebration. Despite previous limited efforts to stimulate the economy, Beijing’s latest flurry of announcements at the end of September signals a more aggressive approach . This, coupled with monetary stimulus , fiscal spending commitments, and property market stabilization , has driven a spectacular rally in Chinese stocks. Iron ore has surged over 25% since Sept 23, with industrial metals like copper and aluminum also performing well. Global mining giants , including BHP Group and Rio Tinto , have seen their share prices rise amid this optimism. However, analysts stress the nee...