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 Highlights: Revenue Outlook Disappoints: Adobe's fiscal year 2025 revenue target of $23.3 billion to $23.55 billion fell short of analysts’ expectations of $23.78 billion , according to Bloomberg data. Post-Market Reaction: Shares fell over 8% in extended trading, reflecting investor disappointment despite strong quarterly results. Fiscal Q4 Results Exceed Expectations: Adjusted Earnings: $4.81 per share, exceeding analyst expectations by 3% . Revenue: $5.6 billion, slightly beating projections of $5.54 billion . Stock Performance: Adobe's stock is down 7.8% year-to-date. This contrasts with the Nasdaq 100 Index's 34% gain during the same period. 2025 Earnings Target Miss: The company’s adjusted earnings guidance for 2025, at $20.20 to $20.50 , also fell below the $20.52 anticipated by analysts. Adobe’s Position and Outlook: CFO Statement: CFO Dan Durn emphasized Adobe’s AI innovati...