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.
Iron ore prices ticked up again on Monday, continuing last week’s rally — just as traders brace for China’s GDP figures, due Tuesday. The Numbers: Iron ore futures hit US$99.90/tonne , up 0.4% in Singapore Last week saw a 3.6% gain — the best weekly performance since January Chinese steel exports hit a record high of 30.7 million tonnes in Q2 Iron ore imports surged 22% in June compared to May What’s Driving the Market? Speculation of stimulus : Hopes are growing that Beijing will support the ailing property sector and reduce industrial overcapacity — both crucial for iron ore demand China GDP Watch : If Q2 GDP hits or slightly surpasses the 5% target , that’s good news — but it could dampen the urgency for additional stimulus from policymakers Trade diplomacy : Australian mining giants like BHP, Rio Tinto, and Fortescue are in Beijing this week alongside PM Anthony Albanese...