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.
BOT’s Unexpected Move Spurs Market Rally The Bank of Thailand (BOT) cut its interest rate by 0.25 percentage points , surprising economists. The move aims to support economic growth and weaken the baht to boost exports. 16 out of 26 economists in a Reuters poll had expected no change in policy. Market Reactions Thai stocks jumped 2% , rebounding after two consecutive sessions of losses. The baht remained flat , despite expectations of further rate cuts later this year. Other Asian markets gained : Philippines (+1.3%) Malaysia (+1.2%) China (+1%) Regional Currency Movements Singapore dollar, Malaysian ringgit, and Indonesian rupiah fell 0.2% . Taiwan dollar traded flat after Taiwan revised down its 2025 GDP forecast to 3.14% from 3.29% . US dollar index gained 0.3% , recovering from an 11-week low. Outlook & Future Risks Analysts expect one or two more rate cuts if the US imposes tariffs on Thailand or if global growth slows. BOT ...