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.
Taiwanese companies are raising funds at record levels as the global race for artificial intelligence (AI) components drives chipmakers and hardware manufacturers to expand. Total share sales abroad by Taiwanese firms have reached $2.9 billion so far in 2024, marking the highest fundraising activity since 2007, according to Bloomberg data . Companies such as Taiwan Semiconductor Manufacturing Co. (TSMC) and Hon Hai Precision Industry Co. are leading the charge, bolstered by surging AI demand . TSMC and its peers are reporting stronger-than-expected revenue , while the local stock market’s sharp rebound since mid-September has further encouraged fundraising through share offerings and convertible bonds. Hon Hai, a major supplier for iPhone and MacBook makers, is considering raising $700 million through convertible bonds to boost its server capacity . Similarly, Quanta Computer Inc. raised $1 billion in August via a convertible bond offering to fund its expansion. Convertible b...