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.
What happened US President Donald Trump threatened to raise tariffs on South Korean goods to 25% , accusing Seoul’s legislature of failing to formalise a trade deal reached last year. The higher tariffs would apply to autos, pharmaceuticals, lumber and other goods , up from the current 15% levy . The warning was issued via social media and follows delays in South Korea’s parliament passing a “special law on strategic investment with the US” , which would legally underpin Seoul’s investment commitments under the bilateral deal. Why this matters South Korea is highly exposed to the US market , with America accounting for over 17% of total exports (US$122.9 billion) last year. Any tariff hike would directly affect major exporters such as Hyundai Motor , which shipped 1.1 million vehicles to the US in 2024. While Trump has often walked back tariff threats , Bloomberg data show about 27% of such threat...