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Market Daily Report: Selective Buying Of Defensive Stocks Lifts Bursa Malaysia Higher At Close

 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.

Middle East on the Brink: Trump Turns Up the Heat on Iran

Tensions in the Middle East are boiling over — again. But this time, it’s not just a regional issue. The U.S. could be pulled directly into the conflict. Here’s what you need to know: President Trump is  raising the pressure on Iran , fueling fears that Washington may soon  join Israel’s ongoing strikes  on Tehran. This conflict has already rattled oil markets — and it could be just the beginning. "Not a Ceasefire. An End." Trump didn’t mince words. After leaving the G7 meeting early, he told reporters: “An end. A real end. Not a ceasefire.” That comment sparked immediate speculation — was the U.S. about to join Israel’s military campaign? Meanwhile, Israel’s Defense Minister declared that " very significant targets " in Tehran would be hit. The airstrikes have already stretched into their  fifth straight day , targeting Iranian nuclear and military infrastructure. Satellite images show that  Israel struck Iran’s Natanz uranium enrichment facility , one of the c...

Crude Oil Soars: Middle East Tensions Drive Biggest Surge in Over 3 Years

Oil markets roared to life on Friday as crude prices logged their sharpest single-day gains since 2022, driven by a sudden spike in geopolitical tensions. The trigger? Israel launched air strikes on Iranian military and nuclear facilities, marking a serious escalation in Middle East conflict risk. A Sharp Repricing of Risk Front-month WTI crude (CL1:COM) surged +7.2% to close at $72.98/bbl — its highest settlement since February 11 and the biggest one-day jump in more than three years. Brent crude (CO1:COM) wasn’t far behind, climbing +7% to $74.23/bbl. Traders had been pricing in a supply surplus for most of the year, with OPEC+ relaxing output cuts and production climbing in Brazil and Guyana. But that narrative flipped quickly. The latest strikes — although sparing oil infrastructure — have forced markets to consider worst-case scenarios, including potential disruptions at the vital Strait of Hormuz. What Analysts Are Saying J.P. Morgan warned that crude could hit $120/bbl if confli...

Moody’s Downgrades Israel Amid Mounting War Costs and Economic Strain

Moody’s has downgraded Israel's credit rating for the second time this year, citing escalating costs from nearly 12 months of conflict with Hamas in Gaza and worsening hostilities with Hezbollah . The country's rating was cut by two notches to Baa1 , leaving it three levels above non-investment grade, with a negative outlook . Moody’s highlighted the significant geopolitical risks facing Israel, noting that the intensifying conflict with Hezbollah has raised concerns over long-term economic stability. Israel's projected war costs through the end of 2025 are estimated to reach $66 billion , more than 12% of the nation’s GDP . Despite the Israeli government’s criticism of the downgrade as “excessive and unjustified,” Moody’s expressed doubts about a rapid economic recovery , forecasting that the conflict would weaken Israel’s economy more severely than initially expected. The country’s fiscal deficit has surged, and growth forecasts have been revised downward, with 202...