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.
Switzerland's efforts to revamp its relationship with the European Union (EU) are facing significant new opposition from the three billionaire founders of Partners Group Holding AG . Alfred Gantner, Marcel Erni, and Urs Wietlisbach , who built one of Europe’s most valuable private equity firms, are leading a political campaign to limit the Swiss government’s ability to conclude a deal with the EU. The group, named “Kompass Europa” , argues that any treaty with the EU should not only pass a national vote, a staple of Swiss direct democracy , but also win approval from a majority of regional governments (cantons) . This could block any deal with the EU, particularly one that includes free movement of people, a contentious issue in Switzerland. While business leaders typically favor closer ties with the EU, the opposition from these powerful figures challenges the assumption that Swiss businesses support the EU. The timing of their intervention could significantly influence a vot...