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Market Daily Report: Selective Buying Of Defensive Stocks Lifts Bursa Malaysia Higher At Close

 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.
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GF Securities Launches Offshore Yuan-Backed Token with Daily Interest

Tokenized Finance in Action GF Securities' Hong Kong unit has launched a tokenized security, known as  GF Token , which offers daily interest and can be redeemed daily. It's issued in USD, HKD, and offshore yuan. How It Works Benchmark: USD token is tied to  Secured Overnight Financing Rate (SOFR) . Investors: Open only to  institutional and professional investors . Platform:  Issued on blockchain  and traded on  Hashkey Exchange . Why It Matters Part of Hong Kong's push to become a  Web3 financial hub . Tokens offer utility for  idle capital , with potential for switching across tokenized assets. Daily interest products may provide  an alternative to money market funds  or traditional savings for sophisticated investors. MoneyMaster Take — Key Insights: Real-world tokenization is happening now  — not just hype. GF Token shows institutional DeFi in motion , offering flexible and regulated digital yield. Watch Hong Kong’s role in set...
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Cathie Wood Points To 'Serious Liquidity Issues' As Overnight Borrowing Rate Spreads Widen On Spiking Treasury Yields

  Key Highlights: Liquidity Crisis Warning : Cathie Wood, CEO of Ark Invest, has raised alarms over "serious liquidity issues" in the U.S. banking system, signaled by widening  SOFR swap spreads  following a sharp rise in  U.S. Treasury yields . SOFR Swap Spread : The  Secured Overnight Financing Rate (SOFR)  reflects the cost of borrowing cash overnight, and the  swap spread  is the difference between the fixed rate in a SOFR-based interest rate swap and the yield on a government bond of the same maturity. The recent  spike  in this spread is a sign of distress in the financial system, particularly in U.S. banks. Treasury Yields : The  10-year Treasury yield  jumped from 3.87% to 4.44%, contributing to a broader sell-off in markets. This spike has led to fears of crumbling foreign demand for Treasuries, particularly from countries like China, which has been a major buyer. Liquidity and Credit Concerns : The widening  SOFR...
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