KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
India has officially become the biggest source of smartphones shipped to the US, thanks to Apple shifting more iPhone production to the country.
In the April–June quarter, India accounted for 44% of smartphones sold in the US, according to Canalys data. This is the first time India has taken the top spot, pushing China down to 25% from over 60% a year ago. Vietnam, where Samsung manufactures most of its devices, came in second.
The shift is driven by Apple boosting its India production and phone makers stocking up devices early due to tariff concerns. The number of iPhones made in India and shipped to the US more than tripled compared to last year.
Apple’s US shipments dipped 11% this quarter as the company had already moved a large batch of inventory earlier this year.
Tech giants, including Apple, are moving production out of China to reduce risks from tariffs and geopolitical issues. Despite pressure from US President Donald Trump to bring manufacturing home, Apple still makes most iPhones in China and none in the US. The company has pledged to invest US$500 billion in the US over the next four years.
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