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 Takeaways: Stocks Up as Tariff Fears Ease: Asian stocks rose on Tuesday, taking cues from Wall Street's positive performance after U.S. President Trump indicated that not all of the threatened tariffs would be imposed on April 2. The prospect of more targeted tariffs boosted investor confidence, particularly in the tech sector. U.S. Market Rally: U.S. stocks closed higher, with the S&P 500 reaching its highest point in over two weeks and a significant rally in tech stocks lifting the Nasdaq by over 2%. This optimism spread to Asian markets, with Japan’s Nikkei and Taiwan stocks rising over 1%. Dollar Hits 3-Week High: The U.S. dollar climbed to a three-week high, boosted by stronger-than-expected U.S. economic data. The S&P Global U.S. Composite PMI showed economic expansion, indicating that the economy is rebounding after a mid-quarter slowdown. Caution Amid Optimism: While the tone on trade appears to be softening, analysts remain cautious. R...