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.
Key Concerns & Credit Downgrade Municipal Market Analytics (MMA) downgraded its state-sector outlook from positive to neutral , citing “rapid and chaotic activity” from the Trump administration. Executive orders and policy shifts are threatening federal funding , which accounts for about one-third of state budgets . States may have to tap into reserves, cut or pause projects , and reduce aid to local governments, colleges, and hospitals . Financial Implications Uncertainty in federal funding could impact essential services , particularly in education and healthcare . State housing finance agencies face higher risks , with possible negative actions on US government bond ratings . Potential elimination or reduction of the municipal bond tax-exemption poses a significant threat to state finances. Rising Costs & Legal Challenges States are incurring higher costs due to policy disruptions , including: Increased expenses for advisors and consu...