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.
Oil prices edged higher Thursday after OPEC+ delayed unwinding production cuts for the second time, aiming to stabilize the market amid global oversupply and sluggish demand from China. Market Reaction WTI crude (January) : +$0.35 (0.5%) to $68.89/bbl. Brent crude (February) : +$0.53 (0.7%) to $72.84/bbl. Natural gas (January) : +2.3% to $3.115/MMBtu. The production cuts, initially planned for January, will now begin in April 2025. Full implementation is pushed back to September 2026 , marking a slower unwinding pace than earlier planned. Expert Insights David Oxley, Capital Economics : Delaying production increases buys OPEC+ time but doesn’t resolve weak global demand. Risks to oil prices remain skewed downward. Robert Yawger, Mizuho Securities : OPEC+ appears to wait for Chinese demand recovery , a strategy that could take time. Jefferies Analysts : OPEC+ is unlikely to boost supply until the market can absorb it, especially without a reduction in Iranian exports . Broader Context ...