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Market Daily Report: Bursa Malaysia Closes Higher On BNM’s OPR Decision, Wall Street Gains

KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
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Nvidia Stock Drops Amid AI Chip Export Concerns

Shares of Nvidia (NVDA) tumbled 9.3% on Monday as the company faces increasing scrutiny over its advanced AI chips reaching China despite U.S. export controls.

Key Market Reactions

  • Nvidia (NVDA): Down 9.3% at $113.30 (as of 3:32 p.m. ET).
  • S&P 500 Index (SPX): Dropped 2.1%.
  • Advanced Micro Devices (AMD): Fell 2.3%.
  • Broadcom (AVGO): Declined 6.9%.

Nvidia had gained 4% on Friday, but remains under pressure following last week’s earnings report despite exceeding revenue expectations.

Tariff & Export Control Worries

  • President Donald Trump announced new tariffs on Canada, Mexico, and China, set to take effect on Tuesday.
  • Nvidia is under renewed scrutiny over reports that its AI chips are reaching Chinese customers despite U.S. restrictions.
  • The Wall Street Journal reported that some Chinese sellers are promising delivery of Nvidia's Blackwell chips within six weeks, allegedly routed through Malaysia, Vietnam, and Taiwan.

Singapore at the Center of Investigations

  • Nvidia's Singapore sales are drawing U.S. lawmakers’ attention, pushing for tighter export regulations.
  • Singaporean authorities charged three men in a fraud case linked to potential violations of U.S. export controls involving Nvidia semiconductors.
  • Nvidia has pledged to investigate potential diversion cases and take appropriate action.

Investor Takeaways

  • Stock remains volatile as geopolitical risks mount.
  • U.S.-China tensions could lead to tighter AI chip export controls, affecting Nvidia’s global sales.
  • Regulatory actions in Singapore and elsewhere may impact Nvidia’s international supply chain.
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