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.
Tesla (TSLA.US) stock climbed on Thursday, reaching $369.16 in late trading, up 3.14% , as excitement grows over the company's upcoming Cybercab and ambitious robotaxi plans. This follows Wednesday's close at a 52-week high and the stock's continued momentum toward levels not seen since April 2022 . Key Developments Driving the Surge: Cybercab Unveiling and Cost Efficiency Tesla's purpose-built robotaxi, the Cybercab, is expected to begin sales in 2026 . A Tesla engineer revealed the vehicle will use 50% fewer parts than a Model 3 , significantly lowering production costs. Tesla also plans to launch its self-driving robotaxi service in late 2025 , initially leveraging current models equipped with advanced driver-assistance systems. A Trillion-Dollar Opportunity Wedbush analyst Dan Ives called the self-driving business a "trillion-dollar opportunity" , underscoring the potential market impact of Tesla's autonomous technology. Delivery and Growth Outlook...