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.
China’s major internet finance platforms are cautiously resuming their consumer lending businesses, signaling a potential shift in Beijing’s stance after years of regulatory clampdowns that began with the halted Ant Group IPO in 2020. According to industry insiders, platforms such as Ant Group , Tencent’s WeBank , and Meituan view Beijing’s new consumer loan interest subsidies —introduced in August to spur domestic consumption—as a green light to expand cautiously. The move marks a turning point after regulators previously forced these fintech giants to restructure and comply with stricter capital and data-use requirements. “The regulatory landscape has become more accommodative,” said one industry source. “The economy now needs large internet finance platforms.” Regulatory Winds Shift The fintech sector appears to be entering what UBS describes as a phase of “normalized regulatory oversight.” UBS projects lending via online platforms to grow...