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.
Following the Federal Reserve's hawkish tone earlier this week, Wall Street faces a new challenge on Friday: the largest 'Triple Witching Day' in history, with $6.5 trillion worth of options tied to individual stocks, indexes, and ETFs set to expire. What is Triple Witching? The term refers to the simultaneous expiration of: Stock options Stock index options Stock index futures This quarterly event is known for spiking trading volumes and creating sudden price swings as traders roll over their positions or establish new ones. Historical Context and Market Impact December's Triple Witching: Historically, this is the most favorable for U.S. stocks. The S&P 500 has a 66% probability of rising in the week after December’s Triple Witching, averaging a return of 0.64% . The "Santa Claus Rally": This week marks the start of the rally, when investors traditionally go long, driving stock gains. Why This Year is Uni...