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.
Analysts have reduced earnings forecasts for VS Industry Bhd (KL ) , anticipating that the strengthening ringgit against the US dollar will negatively affect its revenue for the financial year ending July 31, 2025 (FY2025) . The company's significant reliance on US dollar-denominated sales , which account for around two-thirds of its total revenue, is expected to suffer due to adverse foreign exchange (forex) pressures . In a Thursday note, Maybank slashed its earnings projections for VS Industry by 12% for FY2025 , 19% for FY2026 , and 21% for FY2027 , citing more conservative assumptions due to forex challenges. The stronger ringgit is expected to reduce revenue, with Maybank estimating that a 10% rise in the ringgit could cut revenue by approximately 7% to 10%, leading to margin compression . Additionally, Maybank noted that slower growth for key customers , alongside export challenges, would further weigh on the company’s performance. Although some forex costs may be passed ...