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.
Exxon Mobil , alongside partners Hess and China National Offshore Oil Corporation (CNOOC) , is in ongoing discussions with Guyana’s government regarding the development of the S8 shallow-water oil block , following a bidding round launched in late 2022. Current Status Exxon’s Interest : Exxon remains committed to the S8 block, but the terms of development are still under negotiation. An Exxon spokesperson declined to confirm whether the block will focus on carbon capture and storage or traditional oil and gas exploration . Miscommunication Addressed : Earlier reports suggested Exxon had withdrawn due to the government’s lack of interest in a carbon sequestration project . Vice President Bharrat Jagdeo clarified that Exxon had since reaffirmed its interest in the block, indicating a misunderstanding in prior communications. "They have not walked away from negotiations," Jagdeo said. Auction Overview Participants : Eight of the 14 blocks offered attracted bids, including ...