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.
U.S. President Donald Trump has refused to alter the terms of the recently signed South Korea tariff agreement , keeping in place a 15% levy on Korean goods , despite lobbying efforts from newly elected President Lee Jae Myung . The decision underscores Trump’s hardline trade stance, even as both leaders sought to highlight cooperation on security and industry ties. Key Takeaways Tariff Status Quo : The July agreement — which capped tariffs at 15% and avoided Trump’s earlier threat of a 25% duty — will remain unchanged. Trump signaled no appetite for renegotiation, saying, “They’re going to make the deal they agreed to make.” Political Backdrop : The meeting followed Trump’s volatile social media posts questioning South Korea’s stability, citing reports of “raids on churches.” While tensions briefly spiked, Trump appeared to walk back the remarks during the Oval Office sit-down, crediting Lee’s explanations. Charm Offensive : Lee flattered Trump on ma...