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.
Taiwan Semiconductor Manufacturing Co (TSMC) is doubling down on its currency risk management as foreign exchange (FX) volatility emerges as a major threat to its margins. CFO Wendell Huang said Friday that the company will constantly review and adjust its hedging strategies to offset the impact of a surging Taiwan dollar. 🗣️ “FX is a big uncertainty we cannot control,” said Huang. “But we’ve managed to sustain profitability in the past by leveraging other operational factors—and that’s what we aim to continue doing.” A Multi-Pronged FX Hedging Approach TSMC’s strategy includes: Selling USD in the spot market Using forward contracts Moving US dollar cash holdings into an offshore holding company with USD-denominated financials This approach is meant to buffer against currency swings that could otherwise erode earnings. The company’s recent Q2 earnings beat and upward revision of 2025 revenue guidance underscore its strong fundamentals, l...