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.
Swiss Timepieces, US Tariffs, and a Ticking Clock US President Trump’s latest protectionist move — a 39% tariff on most Swiss-made products — is shaking the Swiss watch industry to its core. The tariff, effective this Thursday , targets one of Switzerland’s most iconic exports: luxury watches , with Swatch Group in the spotlight. “We produce everything in Switzerland. When you add a 39% tariff, we cannot absorb that.” — Nick Hayek, Swatch CEO Swatch’s Short-Term Playbook Front-loaded US shipments to beat the tariff deadline Inventory buffer : 3–6 months’ worth already in U.S. stores Price hikes : Already raised prices 5% in April; more expected Tapping mobile shoppers : Tourists, cruise ships, and duty-free zones targeted More stock shipping this week to brace for the impact Market Reaction Swatch & luxury peers’ shares fell ~5% on Monday , before partially recovering The U.S. is the largest market for Swiss watches , accou...