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.
Macnica Holdings Inc , Japan’s top chip distributor, is pursuing acquisitions in China, Southeast Asia, India, and South Korea to boost its market presence amid growing industry consolidation pressures. The company seeks to navigate the challenges of US-China technological rivalry , export controls , and supply chain disruptions , according to President Kazumasa Hara . With a 22% market share in Japan, Macnica aims to achieve 30% by 2030 organically. However, in growth regions like China and Southeast Asia , acquisitions involving billions of dollars are "very likely." The firm recently acquired competitor Glosel Co but is focusing its expansion efforts abroad rather than domestically. Macnica plans to reduce its reliance on semiconductors , which currently account for 90% of sales , by exploring sectors such as cybersecurity , self-driving car networks , a...