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.
Japanese automakers are slashing vehicle export prices to the United States at record levels to stay competitive under President Trump’s 25% auto tariff — even if it means sacrificing profit margins. Record Price Drop The export price index for Japanese vehicles shipped to North America fell 19.4% YoY in June , the sharpest decline since 2016, according to the Bank of Japan (BOJ) . This marks a strategic pricing move to absorb the tariff shock without passing costs to US consumers. Key Insights The move highlights Japan’s reluctance to raise prices , a tactic aimed at preserving US market share despite rising costs. Automakers like Subaru Corp. have raised prices modestly but are still largely absorbing the hit. Car exports to the US fell 24.7% by value , but only 3.9% by volume in May — proving the price cuts are working to maintain demand. BOJ's Dilemma BOJ Governor Kazuo Ueda is watc...