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.
Online used-car retailer Carvana (CVNA) is set to report its second-quarter earnings Wednesday, and analysts see plenty of momentum behind the company’s winning streak. Analyst Expectations Revenue: $4.58 billion (+34% YoY) Earnings per share: $1.17 (vs. $0.37 a year ago) Retail unit sales: Expected to jump 40% YoY after a 46% surge in Q1 Carvana’s stock has climbed 65% year-to-date and over 160% in the past year , closing at $337 on Wednesday. Tariffs Could Play in Carvana’s Favor With President Trump imposing 25% tariffs on imported cars and used car parts , analysts say the price gap between new and used vehicles may work to Carvana’s advantage. Used cars currently average $25,512 , compared to $48,907 for new vehicles, according to Kelley Blue Book. Analyst Views J.P. Morgan: Rates Carvana Overweight , citing its transformation into a “more profitable and nimble operator” with...