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.
MISC, Petronas Gas, Petronas Chemicals, Seacera Group, Titijaya Some of these companies are likely to be in focus given the recent announcement, rumours and news surrounding them. MISC Bhd The Group's net profit for the third quarter ended Sept 30, 2016 (3QFY16) plunged 72.3% year-on-year to RM134.13 million, mainly because of the negative performance of its petroleum segment as well as a weaker performance from its liquefied natural gas (LNG) and heavy engineering segments. Revenue was down 8.8% y-o-y at RM2.29 billion, from RM2.51 billion when net profit was RM483.56 million, as weaker revenue was recorded across petroleum, heavy engineering and LNG segments. No dividend was declared for the current quarter. Its net profit for the cumulative nine months ended Sept 30, 2016 (9MFY16) however was up 19.6% to RM2.05 billion against RM1.72 billion, mainly driven by its 'others, eliminations and adjustment segment', which swung back to the bla...