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.
In overnight trading, several major stocks swung sharply following earnings reports and deal news. Biggest Gainers Sarepta Therapeutics (SRPT) : +47% after regulators cleared it to resume shipments of its Duchenne muscular dystrophy treatment, Elevidys . Cadence Design Systems (CDNS) : +6% after beating Q2 earnings estimates. Norfolk Southern (NSC) : +3% as it nears a stock-and-cash deal with Union Pacific . Biggest Decliners Whirlpool (WHR) : -14% after Q2 earnings missed expectations, marking one of its steepest drops this year. Nucor (NUE) : -5% despite higher sales as Q2 profits slipped. Bitmine Immersion Technologies (BMNR) : -11.8% as Ethereum-related stocks extended losses. SharpLink Gaming (SBET) : -4% following broader weakness in gaming and crypto-linked names. Crypto Watch Ethereum (ETH) : Treasury-linked stocks continued to slide, signaling persistent investor caution in the...