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.
Key Takeaway
The EU fined Google $3.5 billion for abusing dominance in digital advertising. While regulators call it a win for competition, Trump blasted the move as Europe "stealing" money that could have fueled U.S. jobs and investments.
What Happened
On Friday, the European Commission fined Alphabet’s Google $3.46 billion (≈€2.95B).
Reason: Google allegedly favored its own adtech services (like Google Ads, DV360, DFP, and AdX) over competitors.
Regulators say this practice gave AdX a big edge, letting Google charge higher fees while limiting competition for publishers and advertisers.
Google now has 60 days to propose fixes or face more regulatory action.
Trump Fires Back
President Trump responded sharply on social media:
Claimed the EU has already taken $16.5B from Google over the years.
Argued this money could have gone into American investments and jobs instead of European coffers.
Called on the EU to “stop this practice immediately.”
Why It Matters for Investors
Ad Revenue at Risk: Advertising remains Google’s core profit engine, and tighter EU rules could impact margins.
Regulatory Pressure Rising: This is the latest in a series of EU antitrust actions against Big Tech — showing Europe’s determination to regulate U.S. giants.
Market Impact: Despite the fine, GOOG stock closed up 1.16% on Friday at $235.17 — suggesting investors view the hit as manageable for now.
Investor Take
Google is a cash-rich giant that can absorb multi-billion-dollar fines, but ongoing EU scrutiny could mean more restrictions on its ad business model. For long-term investors, the bigger risk isn’t just fines — it’s whether regulators force structural changes that eat into dominance.
Watchlist:
GOOG/GOOGL – resilience despite fines, but EU pressure keeps risk on the table.
Adtech Rivals – potential to benefit if Google is forced to loosen grip.
Big Tech (AAPL, AMZN, META) – could face similar regulatory headwinds in Europe.
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