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 Nvidia is warning that the proposed AI GAIN Act could hurt its global competitiveness, just weeks after President Trump struck a deal allowing chip exports to China. The legislation would force U.S. AI chipmakers to prioritize domestic orders, raising concerns of supply disruptions, weaker global presence, and intensified pressure from Washington’s tech policies. What’s the AI GAIN Act? Part of the National Defense Authorization Act . Requires AI chipmakers to fill U.S. orders first before selling advanced processors abroad. Blocks Commerce Department from approving exports of the most powerful AI chips (processing power 4,800+ ) if U.S. buyers are still waiting. Nvidia Pushes Back Nvidia insists it never deprives U.S. customers to serve overseas demand. Warns the bill would “restrict global competition” and harm U.S. leadership in AI. Says impact would mirror the controversial AI Diffusion Rule , which...