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.
Sweeping Import Duties Effective Oct 1 President Donald Trump announced a fresh round of tariffs that will take effect on Oct 1 , targeting a wide range of imported goods including pharmaceuticals, building materials, furniture, and heavy trucks. Pharmaceuticals Face 100% Tariff Unless Produced in U.S. Under the new measures, branded and patented drugs will face 100% duties unless their manufacturers have already started or are in the process of building production facilities in the United States. Companies with U.S. facilities under construction will be exempt from the new levy. Trump did not specify under which authority the tariffs are being imposed. Building Materials and Furniture Hit With 50%–30% Tariffs Imported kitchen cabinets, bathroom vanities, and related products will face 50% tariffs , while upholstered furniture will be subject to 30% tariffs . Trump claimed that foreign suppliers have been “flooding” the U...