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Market Daily Report: Selective Buying Of Defensive Stocks Lifts Bursa Malaysia Higher At Close

 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.
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Gold Edges Higher on Fed Cut and Bargain Buying, Set for Third Monthly Gain

Gold prices rose on Friday, extending their monthly winning streak as  bargain hunters  stepped in and the  US Federal Reserve’s rate cut  boosted demand for non-yielding assets, even as a stronger dollar capped gains. Market Snapshot Spot gold:  US$4,034/oz (+0.3%) US gold futures (Dec):  US$3,955/oz (–1.1%) Monthly gain:  +4.5% (third straight) The rally puts gold on track for its  best three-month stretch this year , supported by lower yields and sustained safe-haven demand amid geopolitical and trade uncertainties. Fed Policy and Rate Outlook The Fed cut its  benchmark rate by 25 basis points  this week to a range of  3.75%–4.00% , marking its  second cut of 2025 . While the move supported bullion,  Fed Chair Jerome Powell’s cautious remarks  tempered expectations of another reduction in December. According to the  CME FedWatch Tool , traders now see a  74.8% chance  of a further 25 bps cut in Decem...
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Fed Rate Cut Expected to Trigger Policy Easing Across Asia

After more than two years of currency pressures, Asia's central banks are set to receive some relief as the US Federal Reserve (Fed) is poised to cut interest rates by a quarter point on Wednesday. However, the path ahead for the region's monetary policy remains uncertain and potentially challenging. Lower rates in the US provide room for officials in Jakarta, Seoul, Mumbai , and other capitals to consider easing their own rates. The anticipation of the Fed's rate cut has already attracted investors to emerging Asian debt and equities, boosting currencies across the region. Uncertain Path Ahead for Asia's Central Banks The critical question now is how much these central banks need to cut in the coming months, or whether they need to cut at all. Countries like India and the Philippines face inflationary risks, while South Korea might prioritize financial stability. “It would be an error to think the region’s policymakers are chomping at the bit for their chance to c...
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