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.
In an interview with Reuters, Kaabi said the current version of the CSDDD , adopted in 2024, poses a major compliance risk for QatarEnergy , the state-owned oil and gas giant. The directive requires large corporations operating within the EU to identify and address human rights and environmental issues within their supply chains—or face heavy fines. Under the law, penalties could reach up to 5% of a company’s global revenue if its climate transition plans fail to align with the Paris Agreement’s 1.5°C target . Kaabi warned that this could make it impossible for QatarEnergy to justify doing business in the EU , including supplying LNG and other products, due to the “overreaching nature” of the regulation. “We have been engaging with the European Commission and every EU Member State for almost a year now on CSDDD,” he said. “But so far, there has been no response.” EU Market Risks and LNG Supply Implications Qatar currently provides 12...