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: The South Korean won, one of Asia’s worst-performing currencies, faces further depreciation risks as Trump’s potential tariffs and macroeconomic challenges weigh on its outlook. The South Korean won hit 1,410.70 per dollar last week, its weakest since November 2022, amid fears that US President-elect Donald Trump may impose tariffs on Korean goods . Analysts predict the won may decline an additional 0.7%, adding to this year’s 7.7% drop . Factors Driving Weakness: Export Dependence: South Korea’s exports, particularly semiconductors critical for AI , are vulnerable to scrutiny as the US is its second-largest trading partner after China. Macro Pressures: Rising US bond yields and foreign selling of Korean stocks have further weakened the currency. Key companies, such as Samsung Electronics , reported disappointing earnings, spurring equity outflows . Market Outlook: Bank of America Securities expects the won to hover near 1,400 per dollar through 2024, underperf...