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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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Q2 2025 U.S. Banking Earnings: Strong Beats with Resilience in Focus

The big six U.S. banks — JPMorgan, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley — mostly beat expectations in Q2, showing resilience despite macro headwinds. All outperformed the broader market this year, except Bank of America, which slightly lagged.

JPMorgan (JPM)

  • Net interest income (NII) rose +2% YoY

  • Investment banking up +7%, despite prior guidance suggesting a decline

  • Raised NII forecast to $95.5B (from $94.5B)

Outlook: Solid execution, still the sector bellwether

Bank of America (BAC)

  • NII rose +7%, helped by interest rates and trading gains

  • Investment banking lagged, leading to mixed overall results

  • Missed some Street expectations despite positive segments

Outlook: Resilient, but trailing peers in core growth areas

Wells Fargo (WFC)

  • NII fell -2.6%, missing forecasts

  • Blamed on asset mix shift to lower-yield businesses

  • Bank to focus on deposit growth, cautious loan expansion

Outlook: Defensive posture in place, H2 guidance more optimistic

Citigroup (C)

  • NII jumped +12%

  • Trading revenue up +16%, IB revenue +15%

  • Best Q2 market performance since 2020; record equity trading

  • Reaffirmed full-year revenue near $84B, continues transformation

Outlook: Strongest quarter among peers, gaining investor confidence

Goldman Sachs (GS)

  • Trading revenue surged +22%, with record equity volumes

  • Investment banking up +26% on improved dealmaking

Outlook: Benefiting from capital markets rebound and equity leadership

Morgan Stanley (MS)

  • Sixth consecutive solid quarter

  • Trading revenue up +18%

  • Equity underwriting surged +42% YoY, led by IPOs like Chime and Hinge Health

Outlook: Stable performer, gaining momentum in equity capital markets

Money MasterTakeaway

  • Citigroup stood out with broad strength across all segments.

  • Goldman Sachs and Morgan Stanley are capitalizing on renewed deal flow.

  • JPMorgan remains a reliable performer.

  • Bank of America and Wells Fargo are showing cracks under tighter conditions.

Investors will now turn to H2 guidance and loan growth trends, with close attention to Fed policy, tariffs, and market volatility in shaping earnings going forward.

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