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.
Foreign investors are exiting Indonesian stocks for the 15th straight session , marking an equity outflow of US$891 million (RM3.96 billion) so far in November, according to Bloomberg data. This has pushed the nation’s benchmark equity index to the brink of a correction, dropping 9% from its record high on Sept 19 . The retreat is fueled by a stronger US dollar and higher treasury yields , triggered by expectations that President-elect Donald Trump’s policies will heighten US inflation and limit Federal Reserve rate cuts . The rupiah has weakened 1% this month, while foreign investors have also sold US$810 million worth of Indonesian government bonds , poised for their first monthly outflow since April . “What was initially a major tailwind for ASEAN , such as a weaker dollar and lower rate...