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.
Stock Markets Plunge as Recession Risks Grow Wall Street on Edge: Trade War Fears Fuel Market Selloff For the past year, U.S. policymakers have worked toward a “soft landing” — lowering inflation without triggering a recession. Now, with President Trump’s latest economic policies, markets fear a shift towards a “hard landing.” Trump’s administration has downplayed recession risks, instead focusing on aggressive trade tariffs and major spending cuts. In an interview with Fox News, Trump defended his policies, stating, “There is a period of transition because what we’re doing is very big.” Later, speaking aboard Air Force One, he doubled down, calling tariffs “the greatest thing we’ve ever done.” The market reaction was immediate. Dow Jones Industrial Average : Down 890 points (-2.1%) S&P 500 : Fell 2.7% Nasdaq : Plunged 4%, its worst day since 2022 The sharp decline has erased all post-election market gains, sending shockwaves through investors. Corporate Ame...