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.
The year 2024 was marked by transformative shifts in global financial markets , with standout performances from Bitcoin , U.S. equities , and gold , while other assets, like crude oil, faced challenges. Key Market Highlights 1. Bitcoin’s 136% Surge: A Digital Gold Rush Performance : Bitcoin soared 136.88% , becoming the top-performing asset of 2024 . Drivers : Institutional Investment : Increased adoption for its inflation-hedging properties . Bitcoin ETFs : Approval in the U.S. improved liquidity and accessibility. Technological Advancements : Lightning Network upgrades attracted long-term investors. Trump’s Re-Election : Analysts expect lenient crypto policies , including potential tax reductions and compatibility initiatives with the U.S. dollar. Outlook : Analysts warn of potential regulatory scrutiny in 2025 , but Bitcoin’s appeal may strengthen if inflationary pressures persist globally. 2. U.S. Equities Soar on Tech Leadership...