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.
Australia has failed in its bid to secure an exemption from U.S. steel and aluminum tariffs , despite extensive lobbying from Prime Minister Anthony Albanese's government . This decision has strained relations between the two long-time allies. Key Points: Tariff Decision : White House spokesperson Kush Desai confirmed that the tariffs will go into effect at midnight on Wednesday , with no exemptions for any U.S. trading partners, including Australia. Australian Reaction : Prime Minister Albanese expressed disappointment, calling the move "entirely unjustified" and an act of "economic self-harm" by the U.S. However, he added that Australia would not retaliate with any reciprocal measures . Historical Context : In previous years, Australia successfully negotiated for an exemption from similar tariffs under the Trump administration . However, this time, the deal seems much harder to ...