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.
China-Taiwan Tensions Escalate Over Semiconductor Industry China claims Taiwan is giving away its semiconductor industry to the U.S. in exchange for political support. Reports suggest Taiwan Semiconductor Manufacturing Co. (TSMC) is in talks for a stake in Intel, though neither company has confirmed this. Taiwan’s government denies knowledge of any overseas investment application from TSMC. U.S. and Taiwan's Semiconductor Dispute President Donald Trump has criticized Taiwan for taking U.S. semiconductor business and has pushed for more domestic chip production. China's Taiwan Affairs Office accused Taiwan's ruling party (DPP) of 'selling out' TSMC to gain favor with the U.S. Beijing claims Taiwan is using its chip industry as leverage for political independence. Taiwan Responds to China's Allegations Taiwan’s Mainland Affairs Council reaffirmed TSMC’s importance and vowed to collaborate with the industry to maintain leadership in advanced techno...