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.
Asian equities eased on Thursday as investors locked in gains from a strong quarter and positioned for month-end flows, while the Japanese yen slid to fresh lows against the euro and Swiss franc. Equities Consolidate After Strong Quarter MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.2% , though it remains up 5.5% for September and 9% for the quarter . Nikkei 225 : Rose 0.1%, extending quarterly gains of 13%. Chinese blue chips : Flat. Hang Seng Index : Down 0.2%. Analysts flagged possible rebalancing flows as month- and quarter-end approach. “Funds may need to sell US and Japanese indices, with German and Australian markets likely to benefit,” said Tony Sycamore of IG. Wall Street and Fed Outlook Overnight, Wall Street fell for a second straight session as investors booked profits from record highs. S&P 500 futures : Up 0.1%. Nasdaq futures : Up 0.1%. Markets still price in a 92% chance of a Fed rate cut in October , b...