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.
Wall Street closed lower on Friday as investors digested a new wave of tariff escalations from President Donald Trump, reigniting concerns about global trade disruption just as second-quarter earnings season looms. Tariffs Trigger Caution The S&P 500 slipped 0.33% to 6,259.75 , pulling back from Thursday’s all-time high after Trump announced a 35% tariff on Canadian imports starting next month. The president also threatened blanket tariffs of 15%-20% on most other trade partners, building on Wednesday’s shock 50% tariff on Brazilian goods. "The tariff rhetoric is back, and it’s rattling sentiment," said Michael James of Rosenblatt Securities. "Markets were getting used to a quieter trade backdrop—now they’re recalibrating." The Dow Jones Industrial Average fell 0.63% to 44,371.51 , while the Nasdaq edged down 0.22% to 20,585.53 . Weekly Recap: Modest Pullback Despite Rec...