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.
Amazon.com Inc. announced plans to invest £8 billion (US$10.5 billion) in the UK over the next five years to expand its cloud business, Amazon Web Services (AWS). This move adds to Amazon's ongoing efforts to grow its presence in Europe and provides a significant boost to Britain's new Labour government. Key Takeaways: Significant Economic Impact : The investment by AWS in data centers is expected to support up to 14,000 jobs and contribute £14 billion to the UK’s gross domestic product (GDP) between 2024 and 2028. This expansion is part of Amazon's broader global strategy, with similar investments in countries like Germany, Mexico, the US, Saudi Arabia, and Singapore this year. Boost for the UK Government's Economic Goals : The announcement is a positive development for Chancellor of the Exchequer Rachel Reeves, who aims to stimulate the UK's economic growth and address fiscal challenges. The investment reflects confidence in the UK as a business-friendly environ...