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.
The Ministry of Investment, Trade and Industry (Miti) announced that the Digital Investment Office has approved foreign investments worth RM127 billion in digital-related projects between 2021 and March 2024. Key Takeaways: Investment Breakdown: Foreign investments: RM127 billion Domestic investments: RM34.9 billion Total approved investments: RM161.9 billion Sectors Involved: Data centers Cloud computing Data hosting Big data analytics Artificial intelligence Employment Benefits: Creation of 49,108 skilled and high-paying job opportunities Roles include data engineers, data scientists, big data analysts, cybersecurity engineers, and IT engineers Infrastructure Focus: Emphasis on inclusive digital infrastructure investments High-speed internet networks and low-latency technological solutions Economic Impact: Digital transformation for micro, small, and medium enterprises (MSMEs) MSMEs contribute 48% of jobs and 38% of economic growth Reorganization of industrial clusters and value chai...