KUALA LUMPUR: Malaysia's stock market rebounded on Wednesday, with the FBM KLCI climbing more than six points, after the central bank unexpectedly cut interest rates by 25 basis points, easing borrowing costs for eligible companies and consumers. Foreign funds were behind the rebound.
The broader market gained strength, especially property counters, after the announcement by Bank Negara Malaysia that the Monetary Policy Committee (MPC) meeting decided to lower the overnight policy rate from 3.25% to 3%.
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