KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
As we stare at the global economy slowdown, we should keep asking ourselves, "Are we prepared for it?" Are we confident enough to declare that we have prepare for the worse? Some might be quite relief that the crude oil price has been going down for few days but we don't know how long this will last. Even if the crude oil price remain downtrend, we cannot let our guard off. To prepare for it, one must always ensure there's sufficient fund in hand, if and only if the global economy slowdown. Even if you can keep your job, the money will come in handy especially if the stock market collapse. Can really get good deal during the market collapse. In fact, the money can be used to buy property at very low price. Usually when comodities reach historical high, cash is king. But I'm the kind of guy who believe that the market will rebound one day, which is why I will continue to accumulate the high dividend yield counter, so that I can have passive income. And again, we ar...