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.
Market Overview U.S. stocks extended their rally for a third consecutive session on Tuesday, with all three major indexes — S&P 500, Dow Jones, and Nasdaq Composite — setting fresh record closing highs . The bullish momentum was driven by optimism over a potential U.S.–China trade agreement , expectations of a Federal Reserve rate cut , and robust gains in mega-cap tech names. Index Close % Chg Note S&P 500 6,890.89 +0.23% New record close Dow Jones IA 47,706.37 +0.34% Third straight record Nasdaq Composite 23,827.49 +0.80% All-time high All three benchmarks also notched intraday records , underscoring the strength of current market sentiment. Macro Highlights U.S.–China Trade Hopes: Investors remain optimistic ahead of Thursday’s Trump–Xi meeting at the South Korea summit. Reports suggest potential easing of rare-earth and software trade curbs , and a U.S. proposal to halve tariffs from 20% to 10% if China ...