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: After tariff-driven setbacks, Temu , owned by PDD Holdings Inc. , is mounting a comeback in the U.S. with deep price cuts, renewed advertising, and a logistics overhaul as it battles Shein for market share. Price Cuts and Consumer Push Prices of at least two dozen best-selling items tracked by Bloomberg dropped 18% on average since April. Some items were slashed by as much as 60% . Temu has also stopped charging import fees , which previously inflated final costs — at times exceeding the value of the goods themselves. The retailer is pushing merchants to restock for the U.S. holiday season , offering better app traffic in exchange for steeper discounts. Impact of Tariff Changes Temu’s business model — shipping small parcels directly from China to U.S. households — was upended after President Trump removed the de minimis tariff exemption earlier this year. U.S. sales plunged more than ...