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.
Malaysia’s technology sector continues to face earnings headwinds , with analysts warning that US tariff uncertainty and cost pressures could further dampen performance over the next six months. What’s Happening? According to Hong Leong Investment Bank (HLIB) , tech stocks remain vulnerable even after a 21% decline in the Bursa Malaysia Technology Index so far this year — significantly underperforming the broader FBM KLCI , which is down about 7%. The US recently announced a 25% blanket import tariff on all Malaysian goods — catching the Malaysian government off guard. President Donald Trump has, however, left the door open for negotiations until the Aug 1 deadline . Key Concerns for Tech Firms US tariff uncertainty is clouding visibility on long-term demand. Rush orders currently supporting production may taper off once inventory levels normalize. Companies face rising costs : Higher...