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 Takeaways Eric Trump, EVP of the Trump Organization, called China “a hell of a power” in crypto despite its 2021 ban on digital token trading. He spoke at the Bitcoin Asia conference in Hong Kong , highlighting both China and the US as the two “bitcoin superpowers.” Eric Trump predicted bitcoin could reach US$1 million in the coming years, urging long-term holding. Comments come as US President Donald Trump seeks a summit with Xi Jinping , following sweeping global tariffs earlier this year. China’s Role in Crypto While China has officially banned cryptocurrency trading since 2021, residents have continued to circumvent restrictions , keeping the country influential in global digital asset markets. Trump and investor David Bailey suggested China remains a key player, though neither provided detailed reasoning. US Stance Under Trump Administration The US has taken a sharply different approach, with President Trump actively embracing the indu...