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.
Sector Outlook: POSITIVE
The U.S. Department of Energy has launched a major initiative to rebuild the country’s nuclear fuel supply chain. This move could significantly benefit Energy Fuels (UUUU), which owns key uranium production infrastructure in the U.S.
Key Highlights
DOE Initiative Could Be a Game-Changer
DOE has called for applications from U.S. companies to build and operate nuclear fuel production lines.
Goal: Reduce reliance on foreign uranium and support advanced nuclear reactor development.
Fast-tracked approval process aims to attract private investments while de-risking participation.
Energy Fuels in Prime Position
Operates White Mesa Mill in Utah — the only fully licensed uranium mill in the U.S.
Well-positioned with the infrastructure and experience to align with DOE goals.
Long-standing ambition to build a fully integrated domestic fuel cycle puts the company ahead of peers.
Strong Price Momentum, Weak Fundamentals
Energy Fuels stock surged 6.19% to close at $8.24 — just shy of its 52-week high of $8.29.
Benzinga Edge ranks UUUU high in price momentum but low on value and growth scores.
Momentum driven by investor optimism around the company’s strategic role in the U.S. nuclear revival.
Investor Takeaway
Energy Fuels is gaining attention as a top contender in America’s nuclear fuel revival. While fundamental metrics remain weak, the government-backed push offers long-term potential and validates the company’s strategic positioning.
The DOE’s initiative could be the catalyst that sparks a new chapter for domestic uranium producers. Watch closely as the application deadline approaches on August 15.
💡 Top Watchlist Pick: Energy Fuels (UUUU)
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