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.
China’s major tech players are set to kick off Q2 2025 earnings season this week, with AI and cloud services driving growth , while food delivery losses weigh on profitability . Earnings Calendar Tencent – Aug 13 JD.com – Aug 14 Xiaomi – Aug 19 Bilibili & Kuaishou – Aug 21 Alibaba, Meituan, PDD Holdings – Dates TBD Company Highlights & Expectations 🔹 Tencent (00700.HK) – Gaming & AI Cloud Growth Revenue: +10–11% YoY to ~CNY 177B Adj. EBIT: +10–15% Gaming boost : Project Delta now Tencent’s 2nd-biggest domestic game (20M DAUs); Valorant mobile launching Aug 19 (CNY 7B annualized revenue est.). Advertising & cloud segments seeing AI-driven momentum, with cloud expected to return to double-digit growth. 🔹 JD.com (JD.US) – Retail Profits Up, Food Delivery Losses Deepen Revenue: +15% to CNY 335B EPS: -57% YoY to CNY 3.48 Food delivery unit loss: >CNY 10B in Q2, likely to persist into Q3. Retail...