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.
Emerging Asian markets came under heavy pressure on Monday as persistent Middle East tensions kept oil prices elevated , driving risk aversion and accelerating capital outflows across the region. Broad Selloff Across Emerging Asia The MSCI Emerging Asia Index fell 3% , extending its March decline to over 11% , putting it on track for its worst monthly performance since 2022 . Key markets led the downturn: South Korea’s Kospi plunged up to 6.4% Taiwan equities dropped as much as 3.2% Singapore and Philippines markets fell 2%–3% The selloff reflects mounting concerns over prolonged geopolitical risks and inflation pressures . Oil Above US$110 Fuels Risk Aversion Oil prices remained above US$110 per barrel , reinforcing fears of: Imported inflation across Asia Higher production and transport costs Slower economic growth While some Iranian supply may return to markets, investors remain focused on the risk of further disruptions to energy infrastruct...