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.
The private credit market is on the brink of a “reckoning moment” not seen since the 2008 financial crisis , as risks from inflation and a potential recession loom large, according to Jae Yoon, Chief Investment Officer of New York Life Investment Management . Yoon, who oversees the firm’s $727 billion operations, including its business in Asia, shared his outlook during the SuperReturn Asia conference in Singapore on Tuesday. Yoon highlighted that while fiscal stimulus and booming markets had previously shielded riskier market players from collapse, those protections may no longer hold. "The last time you had a major dispersion between well-managed versus unnecessary risk-takers was 2008," Yoon said, warning that another such moment could be imminent. The private credit market is facing multiple challenges, including the threat of an outsized Federal Reserve rate cut and increased competition , which has driven down margins. Last week, Patrick Dennis, co-deputy man...