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 Highlights: Grant Details: The Commerce Department finalized a $6.1 billion Chips Act grant for Micron Technology, enabling the company to build three state-of-the-art chip-making facilities. Investment Impact: Micron's Commitment: Up to $125 billion in planned investments over two decades in New York and Idaho . Additional Expansion: Preliminary terms agreed for a $275 million investment to expand Micron's Manassas, Virginia plant , which specializes in DRAM chips for defense, aerospace, automotive, and industrial applications. Chips Act Context: Passed in 2022 , the Chips Act allocates nearly $53 billion to boost U.S. semiconductor production. The Biden administration aims to finalize key grants before the Trump presidency begins, as President-elect Trump has threatened to eliminate the Act. Micron's Role: Micron, the only U.S.-based memory chip maker , plans to construct: A...