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Market Daily Report: Bursa Malaysia Ends Higher On Positive Sentiment, CI Up 0.83 Pct

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
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Elon Musk’s Attempt to Dismiss Ex-Twitter CEO’s Severance Lawsuit Rejected

A US judge has denied Elon Musk’s request to dismiss a lawsuit from former Twitter CEO Parag Agrawal and other top executives, allowing them to proceed with claims that Musk terminated them to avoid severance payouts.

The lawsuit, filed in March, cites Musk’s comments in Walter Isaacson’s biography, where Musk reportedly mentioned a “$200-million differential” if he closed the Twitter deal that night instead of the next morning.

The former executives, including Vijaya Gadde (Twitter’s former legal head), Ned Segal (CFO), and Sean Edgett (general counsel), allege they are owed severance equating to one year’s salary and unvested stock awards. This case is one of several legal battles Musk faces over alleged unpaid severance.

The court, led by Judge Maxine Chesney, also denied Musk’s attempt to dismiss a related suit from Nicholas Caldwell, a former general manager at Twitter, who is pursuing $20 million in compensation.

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