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.
Key Developments: Foxconn’s AI server plant in Jalisco will be completed within a year , despite US tariffs on Mexico. US$900 million investment will create the world’s largest Nvidia-powered AI server assembly plant. Jalisco’s semiconductor industry is booming , with new investments from ASE, Micron, and Foxconn. State government is fast-tracking permits and offering incentives to accelerate the project. Mexican industrial sector remains strong despite Trump’s 25% tariff threat. Foxconn’s AI Expansion in Mexico Foxconn Technology Group (Hon Hai Precision Industry Co) is pushing ahead with its US$900 million AI server megaplant in Jalisco, Mexico, despite potential US trade tariffs , according to Jalisco Governor Pablo Lemus Navarro . The state-of-the-art facility will be dedicated to assembling AI servers powered by Nvidia's GB200 chips , making it the largest such pl...