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.
Advanced Micro Devices (AMD) shares climbed over 4% to $173.14 after UBS boosted its price target to $210 from $150, citing rising confidence in AMD’s AI semiconductor business . Key Points UBS Analyst Timothy Arcuri: Reaffirmed Buy rating, forecasting 21% upside and stronger-than-expected Q2 results driven by PC and server demand. AI Chip Momentum: AMD’s new Instinct MI350X and MI355X GPUs could fetch around $25,000 per unit , exceeding market expectations. Revenue Outlook: Arcuri estimates AMD’s data center GPU business could hit an annualized $10B by year-end. Strategic Edge AMD’s acquisition of ZT Systems in March adds rack-scale server design capabilities, allowing AMD to deliver full-stack AI systems competing with NVIDIA’s end-to-end solutions. The AI market’s pivot to rack-scale infrastructure is a key driver behind the bullish outlook. Market Context AMD stock...