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.
Solar wafer manufacturing projects in the US will now be eligible for a 25% investment tax credit , following a new rule announced by the US Treasury Department . This expansion could unlock significant investment in domestic production, addressing a gap in the local supply chain for crystalline silicon wafers , which are essential components for solar panels. The rule extends the credit initially created under the US Chips and Science Act , which was designed to bolster the semiconductor supply chain , to now include solar wafer production. This unexpected policy shift builds on the Inflation Reduction Act of 2022 , which had already spurred new solar panel and cell manufacturing initiatives. The move aligns with the administration's broader efforts to boost domestic manufacturing of key renewable energy components and tackle national security concerns tied to supply chain dependencies. It also comes as US solar manufacturers seek tariffs to counteract the perceived subsidizatio...