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.
President Donald Trump said on Wednesday that CNN should be sold or placed under new leadership , regardless of which company ultimately acquires Warner Bros. Discovery, putting the media company at the center of a growing political and corporate battle. Trump: “It’s imperative that CNN be sold” Speaking at the White House, Trump said any buyer of Warner should ensure CNN is either included in the deal or sold separately. “I think it’s imperative that CNN be sold,” he said. “I don’t think the people running that company right now should be allowed to continue.” Behind the scenes, Trump has been telling allies that CNN needs new ownership or leadership, even if Netflix’s offer for Warner is approved. Mega Bids Complicate CNN’s Future Two major bids are on the table: Netflix’s US$72 billion deal , covering Warner’s studios and HBO Max — but NOT CNN Paramount’s US$77.9 billion hostile bid , which includes all cable networks, including CNN Paramount CEO David Ellison repor...