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: Taiwan's central bank warns of risks to Taiwan's economy from the aggressive trade policies proposed by US President-elect Donald Trump. Taiwan’s central bank cautioned on Wednesday about the potential economic impact of Trump’s incoming administration, as proposed tariffs could escalate global trade conflicts and hinder competition in the tech industry. In a report to parliament, the central bank emphasized that Trump’s 60% tariff on Chinese imports could significantly impact China, Taiwan’s largest trading partner, and thereby threaten Taiwan’s export momentum . The bank also highlighted risks from Trump’s suggested 10% universal tariff on all US imports . Trump, who takes office in January, previously criticized Taiwan’s trade practices and suggested the island should pay for US military protection. The US ran a $48 billion trade deficit with Taiwan last year, with Taiwan serving as a major semiconductor supplier to companies like Apple and Nvidia . The ce...