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.
China has warned Japan of severe economic retaliation if Tokyo proceeds with further restrictions on the sales and servicing of chipmaking equipment to Chinese companies. This stance complicates ongoing US-led efforts to limit China's access to advanced technology. Senior Chinese officials have conveyed this message in recent meetings with their Japanese counterparts, according to people familiar with the matter. Key Takeaways: Potential Economic Retaliation : China's warning to Japan is seen as a direct response to US pressure on its allies to curtail technology transfers to Chinese firms. A specific concern for Japan, highlighted by Toyota Motor Corp., is that Beijing might restrict access to critical minerals essential for automotive production if Japan tightens chip-related exports. This mirrors past incidents, such as in 2010 when China temporarily halted rare earth exports to Japan after a territorial dispute. Japan's Delicate Balancing Act : Japan faces a challenging...