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.
SMCI: Riding the AI Boom 🤖 Super Micro Computer (SMCI) is seizing the AI wave, with plans to expand manufacturing in Europe to meet soaring demand for AI servers. Key Highlights: Boosting AI server production to serve Europe’s growing market Already manufacturing in the Netherlands; eyeing new locations Global demand for AI infrastructure is expected to grow for years Powered by Nvidia GPUs , SMCI servers are essential for training & deploying GenAI CEO Charles Liang: “Demand is not only strong in Europe—it’s global.” Stock Performance YTD Gain: +74.44% Last Price: US$53.17 Analysts: 9 Buys | 11 Holds | 3 Sells Highest Target: US$59.00 (Bloomberg)