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 Markets Plunge as Recession Risks Grow Wall Street on Edge: Trade War Fears Fuel Market Selloff For the past year, U.S. policymakers have worked toward a “soft landing” — lowering inflation without triggering a recession. Now, with President Trump’s latest economic policies, markets fear a shift towards a “hard landing.” Trump’s administration has downplayed recession risks, instead focusing on aggressive trade tariffs and major spending cuts. In an interview with Fox News, Trump defended his policies, stating, “There is a period of transition because what we’re doing is very big.” Later, speaking aboard Air Force One, he doubled down, calling tariffs “the greatest thing we’ve ever done.” The market reaction was immediate. Dow Jones Industrial Average : Down 890 points (-2.1%) S&P 500 : Fell 2.7% Nasdaq : Plunged 4%, its worst day since 2022 The sharp decline has erased all post-election market gains, sending shockwaves through investors. Corporate Ame...