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.
Singapore Prime Minister Lawrence Wong has cautioned about growing global economic challenges driven by the escalating competition between the US and China . Speaking at Temasek Holdings' 50th anniversary dinner , Wong highlighted the emerging risks as more economic activities become influenced by security concerns . “We are in a new era, marked by the growing contest for dominance and leadership,” Wong remarked, referring to the technological and geopolitical competition between the two superpowers. He noted that restrictions on critical technologies like artificial intelligence and semiconductors have already been implemented, signaling how security concerns are expanding into broader sectors. Wong further warned that the rise of targeted protectionism and aggressive subsidies for key industries could result in a world driven by zero-sum thinking , potentially making it more dangerous and unstable.