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.
Advanced Micro Devices (AMD) shares climbed over 4% to $173.14 after UBS boosted its price target to $210 from $150, citing rising confidence in AMD’s AI semiconductor business . Key Points UBS Analyst Timothy Arcuri: Reaffirmed Buy rating, forecasting 21% upside and stronger-than-expected Q2 results driven by PC and server demand. AI Chip Momentum: AMD’s new Instinct MI350X and MI355X GPUs could fetch around $25,000 per unit , exceeding market expectations. Revenue Outlook: Arcuri estimates AMD’s data center GPU business could hit an annualized $10B by year-end. Strategic Edge AMD’s acquisition of ZT Systems in March adds rack-scale server design capabilities, allowing AMD to deliver full-stack AI systems competing with NVIDIA’s end-to-end solutions. The AI market’s pivot to rack-scale infrastructure is a key driver behind the bullish outlook. Market Context AMD stock...