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Market Daily Report: Bursa Malaysia Closes Higher On BNM’s OPR Decision, Wall Street Gains

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.

Nissan Shares Drop Amid Production Cuts and Tariff Concerns

Nissan Motor Co   shares fell   3.6%   on Tuesday after news of   production cuts in the US   and potential tariffs on imports from   Mexico and Canada , adding to the automaker’s struggles in a challenging year. Key Developments US Production Cuts : Nissan plans to produce  100,000 fewer vehicles  at its Mississippi and Tennessee plants in the fiscal year ending March 2025. Affected models include the  Frontier, Rogue, Pathfinder, and Infiniti QX60 . Trump’s Tariff Threats : President-elect Donald Trump proposed a  25% tariff  on imports from Mexico and Canada to curb illegal migration and drug flow. Nissan, which builds cars and engines in Mexico, faces increased pressure on US operations. Dire Financial Outlook : Earlier this month, Nissan announced it would: Eliminate 9,000 jobs  globally. Cut production by  20% . Slash its full-year operating income guidance by  70% . The company continues to battle  crateri...

Nissan Shares Surge on Report of Activist Investor Stake

Key Takeaway: Nissan shares rose as much as 6% in early Tokyo trading following reports that Oasis Management has taken a stake , signaling increased shareholder activism in Japan. Nissan Motor shares climbed after Diamond Online magazine reported that activist investor Oasis Management had acquired a stake in the automaker. This follows a recent filing showing Effissimo Capital Management had also taken a position in Nissan. The size and timing of Oasis’s stake remain unclear, and the company has declined to comment. Nissan’s shares were last up 4% at ¥426.7 . Context: Activist investors are increasingly pressuring Japanese companies to improve governance and capital allocation , a trend supported by regulatory guidance. Nissan recently issued a profit warning , announcing plans to slash 9,000 jobs and reduce global manufacturing capacity by 20% due to a sales slump in China and the US . These developments highlight growing investor interest amid Nissan’s efforts to recover fro...