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.
Hong Kong has reclaimed its position as Asia's top financial center , surpassing Singapore in the latest Global Financial Centres Index . Globally, Hong Kong ranked third , behind New York and London , while Singapore slipped to fourth place . The index, released on Monday, marks a significant rebound for Hong Kong's finance sector, which had been impacted by pandemic restrictions and an ailing property market . Other key movements in the rankings include Dublin , Chicago , and Dubai rising in the list, while Shanghai , Beijing , and Geneva moved down. Additionally, Shenzhen overtook San Francisco to rank third in the fintech category. Geopolitical challenges were highlighted as a key risk by respondents to the survey. The Global Financial Centres Index , compiled by Z/Yen Partners and the China Development Institute , evaluates 121 financial centers based on data and feedback from thousands of financial professionals. Here are the top five global financial centers: ...