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.
Donald Trump’s 25% tariffs on steel and aluminum imports went into effect today, escalating the ongoing global trade war . The move, coupled with fresh tariff threats, has sparked fresh market volatility and further tensions with Canada and the EU . Key Highlights : Tariff Drama : After a day of back-and-forth threats, Trump’s tariffs on steel and aluminum imports officially kicked in. This comes as Canada and the EU retaliated, with the EU planning duties on over $28 billion worth of American goods. U.S.-Canada Tensions : Trump’s latest tariff threat was aimed at Canada , intensifying already strained trade relations. However, Trump downplayed the risk of a recession caused by the tariffs while hinting at more levies in the future. Market Reaction : Following the tariff drama, U.S. equity markets experienced some stabilization after the chaos left traders ...