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.
Key Takeaway: South Korea's stock market surged as hopes rose that long-awaited corporate governance reforms could soon pass, potentially reducing the persistent "Korea discount" and boosting shareholder value. Money Master Take / Insight: The Korean market's decades-long underperformance relative to global peers may finally be turning a corner. With the ruling and opposition parties showing alignment on reforming the Commercial Act , investors are seeing this as a rare opportunity for systemic change. If passed, the revised law would hold board members accountable to all shareholders , not just controlling families — a game-changer in the world of Korean chaebols. Watch the holding companies (SK Inc., Hanwha, LS Corp.): These are early indicators of confidence and could become the frontline beneficiaries of governance reform-driven re-rating. Bottom Line: The Kospi jumped nearly 2% and is now up 30% YTD , outperforming most Asian markets. Backed by r...