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.
Indonesia has officially requested to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as part of its efforts to expand export markets and reform its economy, according to Coordinating Minister for Economic Affairs Airlangga Hartarto . The formal request was submitted to New Zealand , the CPTPP's depositary, marking a strategic move to enhance market access and attract more investment . "This is a decision we take to structurally reform our economy and open up market access for Indonesia's economy," Airlangga stated. Indonesia had previously announced its intention to join the trade agreement, which currently includes 12 member countries such as Australia, Japan, Canada, and the UK . The move has received backing from President-elect Prabowo Subianto , who will assume office on October 20, succeeding President Joko Widodo. By joining the CPTPP, Indonesia hopes to integrate more deeply into global trade networks, taking advantag...