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.
Malaysia is set to leverage its 40-year experience in automotive production and a robust semiconductor sector to position itself as a regional hub for electric vehicle (EV) manufacturing in Asean , Deputy Minister of Investment, Trade, and Industry Liew Chin Tong announced. Highlighting Malaysia's significance as the sixth-largest exporter of semiconductor products , Liew emphasized the strategic potential of integrating the automotive and semiconductor industries to create locally designed automotive chips. During his recent visit to Detroit, he noted how global automotive manufacturing was impacted when Malaysia’s semiconductor production slowed during the pandemic, underscoring Malaysia’s vital role in global chip supply. The government’s ambitious EV adoption targets aim for EVs to constitute 20% of total industry volume (TIV) by 2030 , 50% by 2040 , and 80% by 2050 . Liew encouraged manufacturers to see electrification as both a business opportunity and a national agend...