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.
Stock Market Decline: The S&P 500 has entered correction territory , falling over 10% from its recent peak, as President Trump's trade war intensifies. The latest round of tariffs, including threats against the EU, Canada , and China , has caused a significant pullback in US equities, particularly affecting industries reliant on trade. Key Developments: European Union retaliates against Trump's tariffs , implementing duties on US goods, especially alcoholic beverages . Trump responded with an increased 200% tariff threat on wine and champagne from the EU. Canada also escalated the situation with 25% tariffs on $30 billion of US goods , particularly steel and aluminum exports. Investors reacted by selling off, pushing the S&P 500 into correction territory and seeing a $5 trillion drop in market value o...