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.
Markets are bracing for a high-stakes week as a series of major events could shake the recent calm that has propelled U.S. stocks to record highs. Tariffs Loom Large President Donald Trump’s Aug. 1 deadline for sweeping global tariffs is approaching. If no trade deals are reached, higher levies on key trading partners could take effect, potentially sparking volatility. The S&P 500 has surged 28% and the Nasdaq 38% since the market dip in early April following Trump’s initial “Liberation Day” tariff announcement. Federal Reserve in Focus The Federal Reserve’s policy meeting on Wednesday is another major market driver. The Fed is expected to keep rates steady as officials wait to assess the impact of tariffs on inflation. However, tensions remain high, with Trump urging Fed Chair Jerome Powell to cut rates immediately. Some of Trump’s own appointees have signaled support for a cut as early as this month. Tech Earnings on Deck Apple, Micr...