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.
Aggressive Price Cuts Shake AI Industry Chinese AI startup DeepSeek has announced steep discounts of up to 75% on its AI model usage during off-peak hours , according to an update on its website. The move is expected to pressure global AI leaders like OpenAI and Google to further lower their prices. Key Pricing Details Off-peak hours (1630 GMT – 0030 GMT) will see: 75% reduction in API costs for DeepSeek’s R1 model 50% reduction for the V3 model While these hours are considered “off-peak” in Beijing (0030 – 0830 local time), they coincide with peak daytime hours in the U.S. and Europe , potentially intensifying competition. Market Impact & Competitive Pressure DeepSeek’s rapid expansion and aggressive pricing strategy have already disrupted global AI markets , contributing to last month’s tech stock selloff. OpenAI and Google have responded by introducing their own price cuts for their AI offerings. The company is now reportedly accelerating the l...