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.
The Trump administration is nearing a trade deal with Taiwan that could lower US tariffs on Taiwanese goods and unlock a massive new wave of chip investment by Taiwan Semiconductor Manufacturing Co (TSMC) in the United States, according to Bloomberg. What’s on the Table Tariffs on Taiwanese imports could be cut to 15% from 20% , putting Taiwan on par with Japan and South Korea , which secured similar deals last year. In return, TSMC would commit to building at least four additional chip fabs in Arizona , on top of: Six fabs already announced Two advanced packaging facilities If finalised, the agreement could be announced as early as this month . Why This Is a Big Deal US Chip Investment Could Exceed US$100 Billion TSMC has already pledged up to US$165 billion for US manufacturing. With each fab costing over US$20 billion , the four new plants could push total incremental investmen...