Stocks climb on US-China trade truce hope, ringgit at three-month high

  • Markets
  • Tuesday, 05 Nov 2019

KUALA LUMPUR: Stocks on Bursa Malaysia extended gains on Tuesday, spurred by advances across the region amid signs that the US and China are nearing toward a trade truce.

The ringgit strengthened 0.5% against the US dollar at 4.131 after Bank Negara decided to keep the overnight policy rate (OPR) unchanged at 3% for the third time in a row in its last policy meeting for the year.

The benchmark FTSE Bursa Malaysia KL Composite Index added 3.18 points to close at 1,606.74 points its highest close in two months.

Gains in Asia were paced by another record close on Wall Street overnight.

In Japan, the Nikkei 225 Average climbed 1.8% to 23,251 points - a new high for 2019, followed by Jakarta Composite Index 1.36% surge to 6,264 points.

In Hong Kong, the main Hang Seng index was up 0.5% to 27,683 points, while the Singapore Straits Times index advanced 0.4% to 3,248 points.

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