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.
Market Movers & Bold Bets
Opendoor (OPEN) just pulled off a jaw-dropping 200% rally in a month, catching fire after EMJ Capital’s Eric Jackson called it a potential “100-bagger.” With Zillow and Redfin bowing out of iBuying, Opendoor is left holding the crown. Jackson’s math? $12B revenue x 5x multiple = $82 stock target (from $0.82!)
Golden Silence Before the Storm
Gold prices stay cool ahead of ECB talks and Powell’s speech, hovering around $3,354/oz. Investors are eyeing central bank cues and trade tensions, while demand in India remains sluggish.
Other metals? Quietly creeping up:
→ Silver +0.2% | Platinum +0.4% | Palladium +0.6%
Earnings Avalanche This Week
Brace yourself. Major players are stepping up:
🟠 Monday: Verizon, Domino’s
🟠 Tuesday: Coca-Cola, Lockheed Martin, GM
🟠 Wednesday: Google, Tesla, IBM
🟠 Thursday: Intel, Nasdaq, Honeywell
🟠 Friday: Phillips 66, Charter Comm.
All eyes on Alphabet & Tesla — will AI momentum and Model Y updates be enough to offset rising costs and lagging car sales?
Fed Watch & Economic Signals
This week’s key indicators:
- Powell speaks Tuesday @ 8:30am
- Existing Home Sales (Wed) – Forecast: 4M
- Jobless Claims (Thu) – Expected uptick to 230K
- Durable Goods Orders (Fri) – Sharp forecast drop: -11%
Winners & Losers (1-Week Sector Recap)
Top sectors:
Tech +2.2%
Utilities +1.62%
Consumer Cyclical +1.05%
Lagging:
Energy -2.69%
Healthcare -2.38%
YTD Champs:
Industrials +13.19%
Financials +12.45%
Tech +12.01%
Commodities Snapshot – Boom & Bust
Biggest Gainers:
Orange Juice +10.71%
Nat Gas +7.63%
Coffee +6.3%
Biggest Drops:
Cocoa -5.82%
Rough Rice -3.21%
VIX -2.2%
Quick Takeaway:
It’s a power-packed week with earnings fireworks, Fed spotlight, and sector shakeups. Whether you’re holding tech, sipping on coffee gains, or watching gold glisten—this is not the week to tune out.
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