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.
Global markets are entering a more volatile phase as investors reassess lofty technology valuations and the sustainability of massive AI-related capital spending. Asian equities traded mixed on Wednesday following a sharp sell-off in global technology and semiconductor shares, while bond markets signaled growing demand for safety amid concerns over economic uncertainty and interest rate expectations. What Changed? Just weeks ago, investors were focused on: AI-driven earnings optimism Falling geopolitical risks Expectations of monetary easing Now, markets are increasingly focused on: Rising AI infrastructure spending Higher-for-longer interest rates Elevated valuations in technology stocks Increased market volatility The result is a shift from momentum-driven buying toward more selective risk-taking. Technology Stocks Under Pressure The latest sell-off was led by technology and semiconductor names after investors began questioning whether current valuations fully reflect future earnings...