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.
Singapore's private home prices rose less than expected, while rents decreased in the second quarter, reflecting the impact of government measures aimed at cooling the real estate market. Key Points: Home Prices: Private home valuations increased by 0.9% from the previous quarter, lower than the earlier estimate of 1.1% and the 1.4% rise in the first quarter. Rental Market: Private rents fell by 0.8%, following a 1.9% drop in the previous quarter. This marks the third consecutive quarter of rent declines, although rents remain high after rising over 50% in the last four years. Government Measures: The government has implemented policies, including a 60% stamp duty on foreign property purchases, to cool the housing market. Market Resilience: Despite the cooling measures, local spending power remains strong, supporting demand. Bloomberg Intelligence analyst Ken Foong noted that "price growth is moderating" but healthy household balance sheets and families wanting to upg...