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.
Meta Platforms (NASDAQ: META) has launched a $30 billion public bond offering , the largest U.S. investment-grade corporate issuance this year , according to Bloomberg. The move comes just days after the company reported disappointing quarterly earnings and signaled plans to ramp up spending on artificial intelligence. Strong Investor Demand Sources said Meta received an estimated $125 billion in orders , setting a record level of investor demand for a U.S. corporate bond deal. The bonds will be issued in six tranches , reflecting broad interest across maturities. This strong appetite underscores investors’ confidence in Meta’s long-term financial stability and AI-focused growth strategy , despite short-term earnings weakness. AI Spending Push In its latest update, Meta reaffirmed plans to “aggressively” boost AI-related investment , focusing on building next-generation infrastructure and integrating AI tools across...