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.
Trump’s Global Tariffs Backfire: Brazil and India Pivot to China, U.S. Consumers Brace for Higher Prices
Key Takeaway Trump’s sweeping 50% tariffs on imports from Brazil and India are reshaping global trade flows. Brazil is redirecting coffee exports to China, India is moving seafood and tea toward Europe and Asia, and U.S. manufacturers are reporting rising costs and layoffs. For U.S. consumers, the result could be higher prices at the grocery store and for everyday goods. Brazil: Coffee Beans Flow East Brazil, the world’s top coffee supplier , faces a 50% U.S. tariff. More than 180 Brazilian coffee firms have registered to export to China, shifting supply toward its booming café culture. Coffee traders call it an “unprecedented” pivot, signaling China’s growing leverage in commodities markets. India: Seafood & Tea Rerouted Indian seafood and tea producers hit by U.S. tariffs and energy-related levies. Exporters are turning to China and Europe as alternative markets. Industry leaders warn: African suppliers may undercut India on price, r...