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.
Key Takeaway: AMD is cutting approximately 1,000 jobs as part of a strategy to shift resources towards AI and data center markets , areas where it faces tough competition from Nvidia. Advanced Micro Devices Inc. (AMD) announced it will reduce its global workforce by about 4% , primarily affecting sales and marketing roles tied to consumer and gaming PCs. The move reflects AMD's strategic pivot towards high-growth sectors like AI processors and corporate data centers . This workforce reduction is part of AMD’s broader push into AI-driven technology , where it aims to challenge Nvidia’s market dominance. Despite the layoffs, the company is continuing to hire selectively in areas aligned with its growth priorities. AMD joins other tech giants like Cisco and Intel , both of which have recently announced significant layoffs as they restructure to focus on emerging tech markets.