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.
IBM just released its Q2 earnings—and on paper, it looks great. Earnings per share came in at $2.80 , beating Wall Street’s forecast of $2.65 . Revenue also topped expectations at $17 billion , compared to the $16.6 billion analysts predicted. Despite this solid performance, IBM shares dropped over 5% in after-hours trading , even hitting a 6% dip at one point. Why? It’s all about expectations. IBM’s stock has already surged 28% year-to-date , far outpacing the Nasdaq’s 9% gain. With such strong performance baked in, investors were likely expecting more than just a beat—they wanted a blowout. Still, there are positives: Software revenue rose 10% to $7.4B. Consulting revenue grew 3% to $5.3B. IBM reaffirmed its full-year forecast : at least 5% revenue growth (in constant currency). The company raised its free cash flow outlook to more than $13.5B . CFO James Kavanaugh highlighted continued momentum in AI ...