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.
Key Takeaway: U.S. tariffs are compounding structural challenges in the global petrochemical industry, with executives warning of up to a 15% further drop in global trade , following a 34% decline over the past five years. Trade Under Pressure Ganesh Gopalakrishnan , head of petrochemical trading at TotalEnergies , said: If tariffs persist, global petrochemical trade could fall another 15% . Trading houses without physical assets are struggling to stay afloat. Overcapacity has already led to a 34% decline in trade volumes since 2020. Rising Protectionism Sanjiv Vasudeva , EVP & chief market officer at Haldia Petrochemicals , noted that: Tariffs are pushing governments toward more protectionist policies . Overcapacity and volatility make short-term investment planning difficult . China’s Market Impact Bahrin Asmawi , CCO of Petronas Chemicals Group (KL:PCHEM) , warned that tariffs are diverting Chinese petr...