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.
Taiwan Semiconductor Manufacturing Co (TSMC) , the world's largest contract chipmaker, reported a forecast-beating 54% jump in Q3 profit , driven by booming demand for AI-related chips . The company expects sustained strong growth, forecasting fourth-quarter revenue of US$26.1 billion to US$26.9 billion , up from US$19.62 billion a year earlier. In Q3, TSMC's net profit hit a record T$325.3 billion (RM43.39 billion) , surpassing analyst predictions of T$300.2 billion . Revenue for the quarter rose 36% year-on-year to US$23.5 billion , above the company's previous estimates. TSMC, a key supplier for Apple and Nvidia , has been significantly investing in production capacity, forecasting capital expenditure for 2024 at over US$30 billion . The company is building three factories in Arizona , with the first expected to start production in 2025 and the second by 2028 . Despite challenges from rivals Intel and Samsung , TSMC remains a dominant player, and its shares have ...