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.
Wall Street closed higher after Trump unveiled a reciprocal tariff plan , boosting tech stocks like Nvidia, Apple, and Tesla. Meanwhile, Malaysia’s FBM KLCI dropped 0.67% below the key 1,600-point level as market caution persisted. 📊 Wall Street Highlights 🔹 S&P 500: 6,115.07 (+1.04%) 🔹 Dow Jones: 44,711.43 (+0.77%) 🔹 Nasdaq Composite: 19,945.46 (+1.50%) 📌 Key Movers: Intel (INTC): +7%, highest close YTD. Nvidia (NVDA): Gained as HP Enterprise shipped Nvidia’s Blackwell AI system; earnings on Feb 26. Robinhood (HOOD): +14% after earnings doubled estimates; revenue surged 115% y-o-y. Tesla (TSLA): +5% on news of a $400M State Dept. budget for armored Cybertrucks. 📌 Tariff Impact: Trump’s plan aims for reciprocal tariffs , creating both optimism and caution in global markets. 🇲🇾 Bursa Malaysia Market Insight 🔹 FBM KLCI: 1,592.28 (-0.6...