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.
Wells Fargo & Co. announced its departure from the Net-Zero Banking Alliance (NZBA) , signaling growing divergence among Wall Street banks on climate commitments. The move follows Goldman Sachs' exit earlier this month , as financial institutions face increasing scrutiny from Republican lawmakers . Key Details No Explanation Given: Wells Fargo, headquartered in San Francisco, did not elaborate on its decision to leave the NZBA , the world’s largest climate alliance for banks. Political Pressure: Financial firms, including Wells Fargo, are under scrutiny from GOP-led investigations and lawsuits , alleging collusion and anti-competitive behavior in climate-related initiatives. "Climate Cartel" Allegations: The House Judiciary Committee , chaired by Ohio Republican Jim Jordan , accused environmental alliances like NZBA of forming a "climate cartel." Industry Trends: Other institutions, such as BlackRock, Vanguard, and State Street , have ...