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.
Hokuhoku Financial Group: Strongest-Performing Japanese Bank Eyes BOJ Outlook With Short-Term JGB Strategy
Key Takeaways: Hokuhoku Financial Group shares are up 95% YTD, the best among Japanese banks in the Topix Banks Index. Management expects the Bank of Japan (BOJ) to raise rates in October or December, positioning its portfolio toward short-dated JGBs to mitigate rate risk. Net income for FY2024 was ¥39.1 billion, the highest since FY2007, underpinning expectations of stronger shareholder returns. Strategic execution of synergies from its 2004 merger remains a key investor focus. Positioning for Higher Rates Hokuhoku Financial Group Inc., the top-performing Japanese bank stock in 2025, is shifting its securities portfolio toward short-dated Japanese government bonds (JGBs). President Hiroshi Nakazawa anticipates a BOJ rate hike later this year, in line with increasing analyst forecasts of an October or December move. By holding shorter-duration JGBs, Hokuhoku aims to reduce mark-to-market volatility and hold bonds to maturity without realizing losses. The group’s securities book s...