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.
Asian financial markets rallied on Monday after Federal Reserve Chair Jerome Powell signaled a dovish policy stance at Jackson Hole, boosting risk sentiment across regional equities and currencies. The Malaysian ringgit gained 0.6% to 4.20 per USD , its sharpest intraday rise in three weeks, while the Indonesian rupiah climbed 0.5% to a one-week high . The Taiwan dollar advanced 0.6% and the Indian rupee strengthened 0.2%. Equities also posted strong gains, led by Taipei’s benchmark index (+2.5%) , buoyed by semiconductor shares. Jakarta and Seoul rose over 1%, while Bangkok added 0.7%. Fed Pivot Boosts Risk Assets Powell highlighted growing risks to the US job market, reinforcing expectations of monetary easing: 80% probability of a 25bps Fed rate cut in September (Sept 16–17 FOMC). Nearly 50bps of cumulative easing priced in by year-end . The US dollar index stayed near a ...