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.
Big Tech in Focus Meta (META), Microsoft (MSFT), Qualcomm (QCOM), Ford (F), and Robinhood (HOOD) are all set to report earnings after the market closes. Hershey (HSY) and Kraft Heinz (KHC) will post their results before the opening bell. SoFi (SOFI) The fintech company announced a $1.5 billion public stock offering . Shares dropped 7% premarket after hitting a record high Tuesday, following better-than-expected earnings and raised guidance. Sarepta Therapeutics (SRPT) Shares jumped 10% premarket after the FDA allowed shipments of its gene-therapy drug Elevidys to resume. Starbucks (SBUX) Shares gained 4% premarket despite missing earnings estimates. The coffee giant is investing $500 million in staffing and ditching pickup-only stores to combat slumping sales. Visa (V) The credit card company beat forecasts on strong consumer spending. Despite solid results, shares were down nearly 2% p...