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.
Wheat futures on the Chicago Board of Trade (CBOT) dropped on Monday following weather forecasts predicting much-needed rainfall in the drought-affected US Plains. Analysts noted that rains could help replenish moisture levels in key wheat-growing regions, with the Commodity Weather Group reporting that weekend showers had alleviated winter wheat deficits in the Midwest and Plains. Corn and soybeans also edged lower, driven by profit-taking after multi-month highs on Friday and a slight uptick in the US dollar, which can make US grains less competitive globally. The CBOT's most-active soybean futures declined by eight cents, settling at $10.22 1/4 per bushel , while wheat fell by seven cents to $5.65 1/2 per bushel , and corn dropped by one cent to $4.30 per bushel . The US Department of Agriculture recently revealed that farmers grew fewer soybeans and corn this season due to dry conditions, though production levels remain robust, marking the second-largest soy harvest and third-l...