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.
China’s highly anticipated Finance Ministry briefing on Saturday failed to deliver the substantial stimulus that equity investors had hoped for, signaling that market volatility may persist. Despite Finance Minister Lan Fo'an promising more support for the struggling property sector and hinting at increased government borrowing, the absence of a major fiscal stimulus package left traders underwhelmed. Investors were expecting up to 2 trillion yuan ($283 billion) in fresh stimulus, including potential subsidies and consumption vouchers, but the briefing lacked a headline figure . The ministry announced that local governments could issue special bonds to convert unsold homes into subsidized housing, but provided no details on the scale of additional stimulus. Market sentiment turned negative, with Shen Meng , director at Chanson & Co., noting that there is a significant gap between market expectations and what was announced. As a result, investor patience is being tested, ...