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.
Singapore equities opened higher on Tuesday, tracking gains on Wall Street, while investors turn cautious ahead of a potential monetary policy tightening by the Monetary Authority of Singapore (MAS) amid rising oil-driven inflation pressures. STI Opens Higher Amid Positive Market Breadth The FTSE Straits Times Index rose 0.48% to 5,008.28 in early trade, supported by broad-based buying. Market internals were positive, with 110 advancers versus 23 decliners , as trading activity reached 99.36 million shares worth S$67.26 million . Wall Street Rally Driven by AI and Chip Stocks Overnight, US markets advanced, led by technology stocks: Nasdaq Composite +1.2% S&P 500 +1.0% Dow Jones Industrial Average +0.6% Gains were fueled by AI and semiconductor names , including Intel and Nokia . Investor sentiment improved after Donald Trump signaled that Iran may be open to negotiations , easing some ge...