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.
Stock Surge Kelington Group Bhd ( KGB ) shot up nearly +5% to RM4.39 on Tuesday morning — a new all-time high — as investors cheered news of a potential foothold in Europe . Current price (9:30am) : RM4.34 YTD Gain : ▲24% Market Cap : >RM3B European Breakthrough Kelington received a letter of intent from an existing Malaysian client for a semiconductor hook-up project in Dresden, Germany , potentially worth up to €50 million (RM244M) . Hook-up refers to the installation of utility and process systems in wafer fabs. RHB Research sees this LOI as a "precursor to a contractual agreement" with work set to begin immediately . Big Picture: Riding the Chip Boom Kelington is capitalizing on the EU’s Chips Act , which is driving a boom in semiconductor fabs across Europe. Major players like TSMC, Intel , and the European Semiconductor Manufacturing Consortium are fueling demand for engi...