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.
Chinese stocks rallied Friday as investors anticipated stronger growth stimulus measures ahead of a key policy meeting, offsetting broader regional caution before the release of critical U.S. jobs data. Key Market Moves: China's CSI 300 Index : Gained up to 1.8% as traders bet on fresh economic support from the upcoming Central Economic Work Conference. Hong Kong's Hang Seng Index : Jumped 1.6%. Regional Trends : While Chinese stocks provided a bright spot, indices in Japan, South Korea, and Australia posted declines. The broader Asian equities gauge rose 0.1%. Global Highlights: U.S. Market Influence : Wall Street's S&P 500 and Nasdaq 100 both saw their first declines in five sessions, down 0.2% and 0.3%, respectively. U.S. Job Market : Jobless claims rose to a one-month high, with November payroll growth estimated at 220,000, a rebound from disruptions in October. Other Regional Developments: South Korea : The won recovered from earlier declines after assurances from ...