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.
Malaysia is emerging as a frontrunner in attracting investments in the ASEAN semiconductor sector, thanks to its established supply chain, skilled workforce, abundant resources, and cost-effective business environment, according to Maybank Investment Bank Bhd (Maybank IB). The country's strategic positioning has led to a surge in investment commitments into its electrical and electronics (E&E) sector, with approved investments nearly tripling in 2023 compared to the previous year and soaring almost 20-fold year-over-year to $7.3 billion in the first quarter of 2024. Key Takeaways: Significant Growth in Semiconductor Investments : Malaysia's role in the global semiconductor landscape is growing, with substantial increases in investment commitments in the sector. The country benefits from its robust downstream capabilities in assembly, testing, and packaging (ATP), which make up 7% of the global ATP capacity, the largest share in ASEAN. Malaysia's and Vietnam's rising...