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.
Jack Ma is already China's wealthiest man...and now he is ready to take on the world. Alibaba's Jack Ma is China's wealthiest Alibaba, named for the Arabian Nights character who uttered "Open sesame" to get into treasure cave did just that. The IPO of Alibaba raised an unprecedented $25 billion, becoming the biggest IPO in history. With that, Ma, who'd once scraped together $20 a month teaching English, joined Warren Buffet, Bill Gates and Mark Zuckerberg among the world's 25 richest individuals. Unlike the usual Gates, Jobs or Zuckerberg, Jack Ma portrays himself as computer illiterate. "I've never written one code, never made one sale to a customer." It's important to take note that before the New York IPO, the Hong Kong bourse had declined to list Alibaba Group under a structure that gave Ma and his managers control even though he wound up owning less than 8% of the stock after the offering....but that didn't s...