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.
In a recent interview, the European Union’s foreign policy chief , Kaja Kallas , claimed that China stands to benefit from the ongoing trade tensions between the U.S. and its allies. Speaking on the sidelines of a Group of Seven (G7) meeting in Canada , Kallas stated, "Who is laughing on the side or looking at the side is China. It’s really benefitting from the U.S. having a trade war with Europe." Her comments came after U.S. President Donald Trump threatened to impose a 200% tariff on wine, champagne , and other alcoholic beverages from France and other EU nations. This was a retaliation against the EU’s plan to tax American whiskey exports , which was itself a countermeasure to the U.S. tariffs on steel and aluminum . The Global Impact of US Trade Wars: Kallas emphasized that trade wars typically lead to inflation peaks , which hurt consumers...