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Market Daily Report: Bursa Malaysia Closes Higher On Strong Buying Of Blue Chips

KUALA LUMPUR, Feb 11 (Bernama) -- Bursa Malaysia ended higher today as buying on selected blue chips continued, said a brokerage.   At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.85 points or 0.51 per cent to 1,756.39 from Tuesday’s close of 1,747.54. The barometer index opened 3.69 points higher at 1,751.23 before moving as low as 1,745.51 in early trade to as high as 1,757.15 during the mid-afternoon session.  Market breadth was positive with gainers leading losers 575 to 474, while 549 counters were unchanged, 1,087 untraded and 11 suspended. Turnover expanded to 2.55 billion units valued at RM3.06 billion from yesterday’s 2.19 billion units valued at RM2.35 billion.
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Trump Proposes US$5 Million 'Gold Card' as New Path to U.S. Citizenship

Gold Card to Replace EB-5 Visa Program

  • Trump announced plans to replace the EB-5 investor visa program with a new "Gold Card" priced at US$5 million as a route to U.S. citizenship.
  • The EB-5 program currently grants green cards to foreign investors who create or preserve U.S. jobs.
  • The new Gold Card would offer green card privileges and a direct path to U.S. citizenship.

Trump’s Justification for the Change

  • Trump called the EB-5 program "full of nonsense, make-believe, and fraud", arguing it was a cheap way to obtain U.S. residency.
  • Commerce Secretary Howard Lutnick said the new plan would ensure only wealthy investors gain U.S. entry.

Potential Eligibility & Controversy

  • When asked if Russian oligarchs could qualify, Trump responded, "Yeah, possibly. I know some Russian oligarchs that are very nice people."
  • Critics may question whether the policy favors ultra-wealthy elites over job-creating investors.

What’s Next?

  • Trump said full details of the Gold Card program will be released in two weeks.

Summary:

  • Trump proposes replacing the EB-5 visa with a US$5 million "Gold Card" that grants green card privileges and a path to citizenship.
  • Move aims to attract ultra-wealthy investors while eliminating alleged fraud in the EB-5 program.
  • Russian oligarchs and other foreign elites may be eligible, raising potential controversy.
  • More details to be announced in two weeks.
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