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.
President Donald Trump's tariff policy has raised concerns across the auto industry, and Tesla is no exception. Tesla's Concerns: Tesla sent an unsigned letter to the U.S. Trade Representative (USTR), warning about the potential negative impact of retaliatory tariffs on the electric vehicle (EV) maker. In the letter, Tesla noted that as a U.S. manufacturer and exporter , it encourages the USTR to consider the downstream impacts of actions taken to address unfair trade practices. Tesla emphasized that U.S. exporters could face disproportionate impacts when countries respond to the U.S. trade actions. Context of the Trade War: Canada has placed 25% tariffs on approximately $30 billion of U.S. goods, including steel and aluminum, in retaliation for Trump's tariffs. While cars aren’t included in this particular retaliation, there’s ongoing concern about future tariffs on the...