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.
Binance , the world’s largest crypto exchange, saw its market share drop to 36.6% in September, its lowest level in four years, as the platform faces increased regulatory scrutiny . This is down from 42.7% at the start of the year , according to researcher CCData . In the spot market , Binance’s share fell to 27% , the lowest since January 2021, while its derivatives trading share dropped to 40.7% , also marking a four-year low. The platform has been losing market share since March 2023 amid regulatory actions and fines, including a US$4 billion settlement with the US Justice Department last year. Changpeng Zhao , the co-founder and former CEO, resigned following the settlement. Under new CEO Richard Teng , a former regulator, Binance has focused on improving relations with regulators . Despite Binance’s decline, smaller competitors like Bybit, Bitget, and Crypto.com have gained market share, as confidence in these platforms grows due to low trading fees, minimal slippage, and hig...