Bursa Malaysia reverses early losses to end higher ahead of MPC outcome

BURSA Malaysia recouped earlier losses to close higher today as late buying lifted the benchmark index to its intraday high on market expectations that Bank Negara’s Monetary Policy Committee (MPC) will maintain the Overnight Policy Rate (OPR) at its meeting tomorrow.

Key regional indices, particularly in China and Hong Kong, recorded significant gains as China’s October Purchasing Managers’ Index (PMI) data revealed stronger-than-anticipated growth in the services sector.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.27 points, or 0.26 per cent, to 1,620.70 from Monday’s close of 1,616.43.

The benchmark index opened 1.77 points firmer at 1,618.20 and subsequently hit a low of 1,613.91 in the early session before gaining its upward momentum in the late trading session.

Market breadth was positive, with advancers trouncing decliners 512 to 476, while 496 counters were unchanged, 895 untraded, and eight suspended.

Turnover expanded to 2.58 billion units valued at RM2.47 bil versus 2.41 billion units valued at RM2.15 bil on Monday. – Nov 5, 2024

Subscribe and get top news delivered to your Inbox everyday for FREE

Latest News