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.
Standard Chartered Plc (StanChart) has partnered with Wise Plc to leverage Wise’s platform for multi-currency money transfers across Asia and the Middle East. This integration will allow users to move funds in 21 currencies over the next few months, according to Wise Platform’s managing director, Steve Naudé. Key Points: Enhanced Cross-Border Transfers : Wise’s infrastructure will enable StanChart to provide faster and lower-cost international payments. Current Collaborations : This partnership expands on StanChart’s existing relationship with Wise, particularly through Mox, StanChart’s digital bank based in Hong Kong. Market Impact : Wise is also partnered with other banks like Brazil’s Nubank and HSBC’s Saudi Awwal Bank, with most cross-border payments completing instantly thanks to Wise’s extensive network. Regional Focus : Asia-Pacific, especially Singapore, remains a growth target for Wise, which has 500 employees in its Singapore office. Wise reported handling £35.2 billion (US$4...