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.
Switzerland and the European Union (EU) have reached a landmark agreement to secure Switzerland’s continued access to the EU's single market, marking the end of a prolonged negotiation period following the breakdown in relations in 2021. The agreement aims to solidify economic and political ties after years of uncertainty and lays the groundwork for smoother bilateral cooperation. Key Features of the Agreement Safeguard Clause on Immigration: A reworked safeguard clause allows Switzerland to address unexpected challenges stemming from free movement of people, addressing domestic concerns without breaching the EU’s foundational principles. Financial Contributions: Transition Period (up to 2030): Switzerland will contribute 130 million francs annually. From 2030 to 2036: Contributions increase to 350 million francs ($391 million) annually. Sectoral Cooperation: The accord includes agreements on science funding, rail transport, and electricity. Swiss businesses had ...