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.
The latest trade pact between the U.S. and European Union highlights a growing trend of higher tariffs, vague investment pledges, and limited clarity. Analysts are already comparing the deal to Trump’s earlier Phase One agreement with China, where purchase commitments fell short of targets. Under the new deal, the EU agreed to a 15% tariff on key goods, along with $600 billion in investments and $750 billion in U.S. energy purchases by 2028 . While the agreement lowers auto tariffs from 25% to 15% and sets a 15% rate for pharmaceuticals and semiconductors, steel, aluminum, and copper still face 50% tariffs. Markets initially reacted positively, seeing reduced risks of further retaliation. But skepticism remains. Experts doubt the EU can meet the massive energy purchase target, noting U.S. fossil fuel exports to Europe were only $78 billion last year. Investment pledges are also seen as overly ambitious. The deal underscores Trump’s strategy: foc...