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 Takeaway: Vietnam’s garment industry aims to diversify export markets and clients as it braces for potential impacts from US President-elect Donald Trump’s trade policies , while maintaining its growth trajectory. Vietnam’s garment exports are projected to grow further in 2025, reaching $47-$48 billion , up from an estimated $44 billion in 2024, according to the Vietnam Textile and Apparel Association (VITAS). Despite this growth, the industry is preparing for potential changes in US trade policies, given Vietnam’s $100 billion trade surplus with the US last year. Diversification Strategy VITAS Chairman Vu Duc Giang emphasized a strategic shift toward diversifying export markets, products, and clients to mitigate risks tied to US tariffs or trade adjustments. While the US remains Vietnam’s largest apparel market , accounting for 38% of shipments , efforts are underway to reduce dependency. “We will push for diversification to address uncertainties,” Giang said, adding that imp...