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 big six U.S. banks — JPMorgan, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley — mostly beat expectations in Q2, showing resilience despite macro headwinds. All outperformed the broader market this year, except Bank of America , which slightly lagged. JPMorgan (JPM) Net interest income (NII) rose +2% YoY Investment banking up +7% , despite prior guidance suggesting a decline Raised NII forecast to $95.5B (from $94.5B) Outlook: Solid execution, still the sector bellwether Bank of America (BAC) NII rose +7% , helped by interest rates and trading gains Investment banking lagged, leading to mixed overall results Missed some Street expectations despite positive segments Outlook: Resilient, but trailing peers in core growth areas Wells Fargo (WFC) NII fell -2.6% , missing forecasts Blamed on asset mix shift to lower-yield businesses Bank to focus on ...