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.
The Biden administration is finalizing additional restrictions on semiconductor equipment and AI memory chip sales to China, escalating its tech crackdown while softening earlier proposals, according to insiders. The measures could be announced as early as next week. Key Details of the Proposal: Targeted Sanctions: Focuses on two chip factories owned by Semiconductor Manufacturing International Corp (SMIC) and over 100 Chinese companies involved in semiconductor equipment manufacturing. ChangXin Memory Technologies Inc , a major AI memory chip developer, is notably omitted from the entity list . Huawei Suppliers: The US plans to sanction some, but not all, of the six suppliers tied to Huawei Technologies Co , a telecom leader central to China's tech strategy. Exemptions for Allies: Japan and the Netherlands are exempt from the Foreign Direct Product Rule (FDPR) provisions, a...