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.
Apple’s upcoming earnings report on July 31 is drawing investor attention as the tech giant faces multiple headwinds — from trade tariffs to concerns about its lagging AI strategy. Stock Performance and Tariff Impact Apple shares are down 14% year-to-date , while the S&P 500 is up 8.5%. The company warned of a $900M cost increase for the June quarter due to U.S. tariffs on China-made products. With most iPhones produced in China, Apple is shifting some production to India to mitigate future tariff risk. iPhone Sales at Stake iPhones remain Apple’s core revenue driver, accounting for $46.8B out of $95.4B in Q2 sales. Tariff-driven price hikes may hurt demand if consumers delay upgrades, posing a major risk to earnings. AI Strategy Under Scrutiny Needham analyst Laura Martin warns Apple is 1–2 years behind Big Tech peers in generative AI. Apple Intelligence, expected to trigger an iPhone upgrade cycle, hasn’t gain...