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.
In the past, the US Federal Reserve (Fed) had a dominant influence on global monetary policy, but today, central banks across the world are taking divergent paths. The post-pandemic global economy has become fragmented, with inflation, growth, and monetary policies varying widely between major economies. This shift signals a decline in America's economic influence on the global stage. While the Fed has been slow in reacting to inflation and rate adjustments, other central banks, like those in Europe and China , are acting independently. For instance, the European Central Bank and Bank of England started lowering rates ahead of the Fed, while China and Japan are pursuing different economic strategies focused on stimulating growth or managing inflation. The yen’s volatility highlights the consequences of these divergent paths. The yen surged and fell dramatically throughout the year as the Bank of Japan and the Fed made different monetary moves. This currency volatility has...