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.
Asia is "the world's most dynamic region" but structural reforms are key given its increasing importance to the global economy, International Monetary Fund chief Christine Lagarde said in New Delhi on Saturday. IMF chief Christine Lagarde spoke in New Delhi on Saturday Asia already accounts for 40 percent of the world economy and stands to deliver nearly two-thirds of global growth over the next four years, Lagarde, the IMF managing director, told the Advancing Asia conference in the Indian capital. "Given this vital economic role, making the most of Asia's dynamism is of great interest to the entire world," Lagarde, on stage with Indian Prime Minister Narendra Modi, said. "Increased interconnectedness means that Asia now affects the world more than ever before," she said. "By the same token, Asia is now more deeply affected by global economic developments than ever before -- and must respond to them." With the global economy f...