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Market Daily Report: Selective Buying Of Defensive Stocks Lifts Bursa Malaysia Higher At Close

 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.
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MicroStrategy Buys More Bitcoin, Surpasses 600,000 BTC — Crypto Stocks Ride the Wave

MicroStrategy (MSTR) is making headlines again — not for software, but for buying even more Bitcoin. On Monday, the company confirmed it resumed BTC purchases, pushing its total holdings past 600,000 BTC — now worth over $73 billion at current prices.

MicroStrategy: Doubling Down on Bitcoin

  • Bought 4,225 BTC last week for $472.5M → avg. price $111,827 per BTC

  • Current BTC holdings: 601,550 BTC, acquired for $42.87B (avg. cost $71,268)

  • Market value now: $73.21B

  • Funded by selling:

    • 797,000 common shares

    • 1.18M preferred shares (July 7–13)

  • Stock jumped +3.78% to $451.02 (near 8-month high)

Why it matters:
The company continues treating Bitcoin as a strategic treasury asset — a high-risk, high-reward move. With BTC pushing above $120,000, investors are rewarding the bold bet.

Crypto-Linked Stocks Rally Too

Bitcoin is up +11.1% in a week, nearing another record close during what’s being called “Crypto Week” in Congress.

Other stocks riding the BTC wave:

  • Genius Group (GNS)

    • Bought 32 BTC on July 12 → now holds 180 BTC (avg. $105,568)

    • Shares surged in the morning but closed down 0.6%

    • Raised BTC treasury goal to 10,000 BTC (up from 1,000)

  • GameStop (GME)

    • Up +1.6% Monday (3-day win streak)

    • Owns BTC, approved treasury policy update in March

    • CEO Ryan Cohen’s ties to Michael Saylor (MSTR) reinforce direction

    • Plans to raise $2.25B in debt — possibly for more BTC buys

  • Robinhood (HOOD) +1.7%

  • Coinbase (COIN) +1.8%

    • Both seen as beneficiaries of rising crypto sentiment and potential pro-crypto policies from a Trump-led administration

Investor Takeaway

  • MSTR remains a high-leverage Bitcoin proxy — stock up +55% YTD, outpacing BTC’s +28.5% rise.

  • Bitcoin momentum is pulling other stocks up — especially those adding BTC to balance sheets or facilitating crypto access.

  • As long as Bitcoin climbs, watch MSTR, COIN, HOOD, GME, and GNS — but remember: volatility cuts both ways.

Keep an eye on:

  • Crypto legislation developments

  • BTC price action

  • Treasury moves from other firms joining the Bitcoin trend

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