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.
Clear Street , a US-based financial services firm, is seeking to join the London Metal Exchange (LME) 's open-outcry trading floor , known as the "Ring." This move comes as the LME faces dwindling activity and a series of high-profile departures, most recently Societe Generale relinquishing its ring-dealing seat last month. The New York-based firm, which expanded into US futures clearing earlier this year, is pursuing regulatory approval ahead of a formal membership application, according to insiders. Clear Street’s potential entry into the LME will be a major topic at LME Week in London, which begins on Sunday. The Ring has seen a reduction in volumes, with only seven members remaining after the pandemic-triggered closure and subsequent reopening in a limited capacity. Founded in 2018 as a clearing broker , Clear Street is growing beyond the US, expanding its commodity markets presence in Europe and Asia . It has been actively recruiting top talent and making str...