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.
Shares of Tangshan Jidong Cement just jumped 30% this month — but before you chase the rally, take a closer look. Despite the price spike, this might not be a growth story. In fact, this cement stock is trading at a humble P/S of just 0.6x , well below its Basic Materials peers in China, many of which trade above 1.6x — and some over 5x . So is this a screaming value buy? Or is the market sending a warning? What’s Beneath the Surface? Last 12 months revenue: -2.1% 3-year revenue trend: -29% total Forward revenue growth estimate: just +0.6% (vs industry +8.1%) Those numbers tell a tough story: this isn’t a high-growth business anymore. What’s Driving the Low Valuation? Revenue is shrinking , and even bullish analysts don’t see a strong rebound. The market sees better growth elsewhere in the Basic Materials space. Investors are cautious , pricing in stagnation — or worse, another leg down. Still, with a low P/S and recent price surge, some c...