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.
BMW AG reported a dip in profitability for the second quarter as U.S. tariffs and weaker sales in China pressured earnings. The German luxury carmaker’s automotive operating margin slipped to 5.4% , slightly above analyst expectations but down from previous levels. Key Points: Tariff Impact: President Donald Trump’s trade war is expected to shave 1.25 percentage points off BMW’s 2025 margins. China Slump: Increasing competition from domestic EV makers like BYD is squeezing BMW’s market share and pricing in its largest market. Shares: Fell as much as 2.1% in Frankfurt Thursday but remain up 6.2% year-to-date . Outlook: BMW maintained its full-year auto margin guidance of at least 5% , making it one of the few European automakers not cutting forecasts this season. Porsche, Volkswagen, and Mercedes-Benz have all downgraded outlooks amid trade-related costs. The company plans to counter tariff effects with cost-saving m...