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.
Sweeping Deregulation to Ease Corporate Burdens The European Commission plans to reduce corporate reporting requirements by 25% , potentially saving €40 billion (US$42.06 billion) for businesses. The "Simplification Omnibus" package aims to loosen rules on sustainability reporting (CSRD) and supply chain due diligence (CSDDD) to help European companies compete with the U.S. and China . Key Changes in the Proposal 1. Looser Environmental & Supply Chain Rules The CSRD (Corporate Sustainability Reporting Directive) will now apply only to companies with over 1,000 employees and €450 million in turnover , excluding 85% of previously covered firms . This reduces reporting obligations from over 50,000 companies to fewer than 7,000 . The CSDDD (Corporate Sustainability Due Diligence Directive) will now apply only to direct suppliers , easing supply chain transparency requirements. 2. Clean Industrial Deal & Energy Plan N...