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.
Intel’s $7.86 billion subsidy from the US government comes with significant restrictions on its ability to sell stakes in its chip manufacturing unit, Intel Foundry , if it becomes an independent entity. The deal is part of a broader $39 billion US initiative to boost domestic chip production , benefiting companies like Intel and Taiwan Semiconductor Manufacturing Co (TSMC) . Key Restrictions on Intel Foundry: Intel must maintain at least 50.1% ownership if the unit is spun off into a private subsidiary. If Intel Foundry goes public, Intel must remain its largest shareholder and cannot sell more than 35% to any single shareholder without triggering change-in-control provisions . Any control changes would require US Department of Commerce approval , as per the terms of the subsidy. Impact on Intel’s Plans: Intel CEO Pat Gelsinger announced plans in Sept...