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.
The recent surge of all the prices of the commodities has make me recall about the same situation that has happened globally three years back. Back then, the price of the crude oil surge beyond USD100, the same thing that what we are seeing now. The surge of the crude oil price and other commodities can have serious effect to a lot of things especially in business. Cost of the raw materials used for manufacturing will increase, subsequently impact their earnings until these companies passed the cost to the consumers - which I assume asap. Nevertheless, global inflation is real and it is going to stay for quite some time, so we better get used to it until the Fed decided to stop printing the money......or put it in this way, until the US economy recovers. None of us would want to have reduced purchasing power, but it will happened. There are several things that we can do to cope with the global inflation, rising prices of the goods, properties and many more. The first to to do to cope w...