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.
Japan’s TOYO Co Ltd has announced plans to construct a two-gigawatt (GW) solar cell factory in Hawassa, Ethiopia , as part of its strategy to supply duty-free components to a planned solar panel factory in the United States . The investment comes in response to growing concerns over newly imposed US tariffs on solar products from Southeast Asian countries, including Vietnam, where TOYO currently manufactures its solar products. The decision to establish the Ethiopian facility is influenced by the tariff exemptions that Ethiopia enjoys, particularly for double-sided solar panels . The US recently imposed preliminary tariffs on solar panels and cells from Malaysia, Vietnam, Thailand , and Cambodia , in an effort to bolster domestic clean energy production . TOYO's CEO, Junsei Ryu , expressed excitement about the project, which will help the company meet the needs of its planned US-based module facility . The Ethiopian plant, with an estimated investment of US$60 million (RM258 ...