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 Takeaways Apple (AAPL) shares posted their worst performance in five years , following the announcement of a 54% effective tariff rate on Chinese goods—placing direct pressure on the tech giant's China-reliant supply chain. Tesla (TSLA) and Nvidia (NVDA) stocks also declined, despite Nvidia not being explicitly targeted. A rare Wall Street downgrade and broader risk-off sentiment added to the selling pressure. Options market saw a notable uptick in activity , with a surge in call volumes and volatility premiums , particularly for Apple . Options Market Highlights Ticker Unusual Activity Comment AAPL $205 Calls 62,477 contracts traded, 163x volume/open interest ratio – a major spike in bullish bets or hedges NVDA Elevated put and call volumes Despite no direct tariff, sentiment weighs on valuation-sensitive tech TSLA Mixed option flows Investors repositioning amid tariff risk a...