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.
Asian equities retreated on Friday as investors turned cautious, locking in gains after a strong global rally while awaiting clearer signals on a potential US-Iran ceasefire extension . Regional Stocks Slip After Multi-Day Rally The MSCI Asia-Pacific Index fell 0.8% , snapping a three-day winning streak . Key markets across the region also declined: Topix -1.1% Hang Seng Index -0.8% Shanghai Composite -0.2% The pullback comes after a 10-day global rally that pushed equities to record highs, leaving markets vulnerable to short-term profit-taking . Oil Prices Ease as Ceasefire Hopes Persist Crude prices declined as optimism over diplomacy improved: Brent crude fell 1.1% to ~US$98 per barrel WTI crude dropped 1.6% to ~US$93 per barrel The easing reflects expectations that a ceasefire could reopen the Strait of Hormuz , restoring oil flows and reducing inflation pressures. Markets ...