KUALA LUMPUR, Nov 6 (Bernama) -- Bursa Malaysia closed higher today, buoyed by supportive local economic policies, positive sentiment from strong technology stocks earnings, and a favourable United States (US) market outlook, an analyst said. Add to that, Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 3.0 per cent is poised to encourage domestic spending and investment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 13.47 points, or 0.83 per cent, to close at its intraday high of 1,634.17, compared to Tuesday’s close of 1,620.70. The benchmark index opened 3.71 points higher at 1,624.41 and subsequently hit a low of 1,623.52 in early trade before trending upwards toward the closing session. Market breadth was positive, with advancers trumping decliners 849 to 352, while 428 counters were unchanged, 765 untraded, and nine suspended. Turnover expanded to 3.39 billion units
China has called on France to play an "active role" in influencing the European Commission toward a balanced solution for both European and Chinese electric vehicle (EV) sectors, China’s commerce ministry reported on Monday.
During a meeting in Shanghai, Chinese Commerce Minister Wang Wentao expressed concern over the EU’s anti-subsidy investigation into Chinese-made battery EVs, which China claims has "seriously hindered" industry cooperation between China and the EU. Last month, the EU voted to implement tariffs on Chinese EV imports, intensifying trade tensions. In response, China launched investigations into EU exports such as pork and dairy and recently imposed anti-dumping measures on brandy.
Wang asserted that China’s investigations adhere to World Trade Organization (WTO) rules and were initiated by domestic industry applications, contrasting this with the EU’s “rash” EV probe. Nevertheless, Wang affirmed China’s willingness to collaborate with the EU on a resolution.
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