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.
ARK Invest Returns to Alibaba Alibaba Group Holding Ltd. shares surged in New York on Wednesday, buoyed by renewed interest from prominent tech investor Cathie Wood . Her firm ARK Invest acquired about $16.3 million worth of Alibaba stock across its ARK Fintech Innovation ETF and ARK Next Generation Internet ETF on Monday, marking its first exposure to the Chinese e-commerce giant since 2021. Stock Performance and Market Reaction Alibaba’s U.S.-listed shares jumped 8.2% on Wednesday, following a 9% rally in Hong Kong earlier this week after its annual technology conference. Year-to-date, Alibaba’s U.S. stock has gained 92% , outperforming broader Chinese tech peers. AI and Cloud Expansion Plans At its flagship conference, Alibaba unveiled Qwen3-Max , a large language model with over 1 trillion parameters , claiming benchmark advantages over rivals such as Anthropic’s Claude and DeepSeek . The compa...