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.
The Malaysian government has rolled out multiple initiatives to boost local electric vehicle (EV) production and support the country's transition to a greener automotive industry . Deputy Minister of Investment, Trade, and Industry Liew Chin Tong highlighted these measures in Parliament, aiming to meet rising local EV demand and achieve Net Zero goals under the National Industrial Master Plan 2030 . Key Incentives Tax Exemptions : Full import and excise duty exemptions for imported EVs until Dec 31, 2025 . Full tax exemptions on domestically produced EVs until Dec 31, 2027 . Road tax exemptions for EV users until the end of 2024 . Tax Reliefs : Income tax allowance or pioneer status for energy-efficient vehicle (EEV) manufacturers, including EV components. Individual tax relief of up to RM2,500 for EV charging insta...