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.
Key Takeaways Cathay United Bank, a subsidiary of Cathay Financial Holdings , plans to expand aggressively in Asia as global supply chains diversify away from China. Vietnam is the main focus, with headcount to rise by 50% from 200 staff , alongside investments in technical capabilities. Expansion also includes Hong Kong (staff to 200 by 2026) , Singapore (+20 staff for private banking) , and new branches in Japan and India . The strategy is driven by the “China plus one” trend , tariff disruptions under the Trump administration, and rising intra-Asia trade flows. The bank seeks to capture business from Taiwanese and Chinese tech manufacturers and Japanese corporates investing in Southeast Asia. Strategic Expansion Cathay United Bank sees Vietnam as its “second home,” positioning itself to ride on the accelerated shift of manufacturing bases out of China. Despite US tariffs — including a 20% levy on Vie...