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.
Futurum Group CEO Daniel Newman says the U.S. government’s decision to take a 10% stake in Intel marks a pivotal moment in Washington’s push to strengthen domestic chipmaking and reduce reliance on Taiwan Semiconductor Manufacturing Co. (TSMC). Speaking with Bloomberg’s Vonnie Quinn and Caroline Hyde on The Close , Newman framed the move as both a market signal and a national security play. A U.S.-Backed Chip Champion Newman noted that while TSMC remains the industry’s gold standard, ongoing tensions between China and Taiwan make U.S. dependence on the Taiwanese chipmaker unsustainable. “The United States needs its own chip champion that can manufacture at the same level as TSMC,” he said. “Relying solely on Taiwan is not a great strategy going forward.” Intel, however, has struggled to regain credibility with major clients such as NVIDIA, Apple, and AMD. Newman argued that government backing could accelerate Intel’s foundry ambitions, even if that means taking “skin in the game” ...