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.
Taiwan Semiconductor Manufacturing Co. (TSMC) just delivered a blowout 39% surge in revenue for Q2 , exceeding analyst forecasts and reinforcing its position as a cornerstone of the AI boom . Q2 Highlights: Revenue: NT$934 billion (≈US$32 billion), beating the NT$928 billion analyst consensus. Sales Drivers: Strong demand from Nvidia and Apple for high-performance chips powering AI and mobile devices. Guidance: TSMC is on track to hit the high end of its US$29.2 billion sales forecast for the quarter. What’s Fueling the Surge? The generative AI gold rush, led by Nvidia’s $4 trillion milestone , continues to lift chipmakers like TSMC, who supply the vital infrastructure for AI training and deployment. CEO C.C. Wei confirmed that AI chip demand still exceeds supply , and reiterated that TSMC's 2025 sales are expected to grow in the mid-20% range (USD terms) . Massive Investmen...