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.
South Korea is set to develop a new entertainment hub to rival Hollywood, aiming to capitalize on the global success of its pop culture phenomena like BTS, Squid Game, and Blackpink. Key Highlights: Entertainment City Development : The South Korean government plans to create a large-scale entertainment city by 2035, spanning 3.3 square kilometers. The city will be dedicated to film, television, music, and other arts, featuring specialized schools, content production facilities, and full-scale replicas of Joseon dynasty palaces to support film and drama production while attracting tourists. Government's Strategic Blueprint : South Korea's Culture Minister, Yu In-Chon, stated that the government would provide the necessary infrastructure and draw a blueprint, hoping to attract investments from companies in telecommunications, internet, and financial services. Economic Impact and Tourism Goals : South Korean content generated around 151 trillion won (US$114 billion) in revenue las...