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Market Daily Report: Bursa Malaysia Closes Higher On BNM’s OPR Decision, Wall Street Gains

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.
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Honda Recalls Over 720,800 Vehicles in US Due to Fuel Pump Risk

Honda is recalling more than 720,800 vehicles in the US due to concerns over a potential fuel pump defect that could lead to fuel leakage, the National Highway Traffic Safety Administration (NHTSA) announced. The recall involves certain models of Accord, CR-V Hybrid , and Honda Civic vehicles from the 2023-2025 model years. The issue arises from the possibility that the high-pressure fuel pump may crack and leak fuel , which, in the presence of an ignition source, could significantly increase the risk of a fire . Affected vehicle owners can have their fuel pump inspected and replaced free of charge by Honda dealers. Honda has not yet commented on the recall.
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Toyota Should Join Honda-Nissan Software Alliance

  Last week, Honda Motor Co and Nissan Motor Co announced their collaboration to develop in-vehicle software. However, Professor Hiroaki Takada from Nagoya University believes Toyota Motor Corp should also join the alliance to better compete against global rivals. Key Points: Software-Defined Vehicles: Japan aims for its companies to capture 30% of the global software-defined vehicle market by 2030. The operating systems that power smarter and more autonomous cars will be as important as engines and batteries in the future of passenger transport. Current Leaders: Currently, Chinese automakers and Tesla Inc are leading in the field of automotive operating systems. Takada suggests that the car industry will likely be dominated by only two or three major operating system makers, similar to how Google's Android and Apple's iOS dominate smartphones. Potential Collaboration: If Toyota were to join Honda, Nissan, and possibly Mitsubishi Motors Corp in developing a car operating sys...
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Honda to Close China Plant and Halt Production at Another to Focus on Electric Vehicles

  Japan's Honda Motor will close a factory in China and halt vehicle production at another plant, the automaker announced on Thursday, as it seeks to ramp up production of electric vehicles (EVs) amid stiff competition from Chinese brands. Key Points: Plant Closures and Production Halts: Guangzhou Plant Closure: Honda will shut down a plant operated through its joint venture with Chinese state-owned Guangzhou Automobile Group in October. This plant, which has been in operation for nearly two decades, produces the Accord sedan and has an annual production capacity of 50,000 vehicles. Dongfeng Plant Production Halt: Honda will pause production at another factory in China, operated through a separate joint venture with Dongfeng, starting in November. This site has an annual production capacity of 240,000 vehicles. Production Capacity Adjustments: Reduction in Capacity: As a result of these changes, Honda's annual production capacity in China will decrease to 1.2 million vehicle...
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