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.
South Korea is in political turmoil after lawmakers filed an impeachment bill against President Yoon Suk Yeol following his unprecedented declaration of martial law. The declaration, aimed at banning political activity and censoring media, was rescinded within six hours amid widespread backlash and resistance from parliament and the public. Martial Law and Impeachment Motion President Yoon announced martial law late Tuesday, citing threats from "pro-North Korean anti-state forces" and a need to protect the constitutional order. However, the move sparked outrage: Armed troops entered the National Assembly , prompting parliamentary aides to push them back using fire extinguishers. Protesters clashed with police outside. Within hours, 190 of 300 parliament members voted to nullify the declaration. Following the incident, six opposition parties filed an impeachment bill. The vote is expected later this week, with a two-thirds majority required to pass. "We couldn't ign...