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.
Peter Navarro emphasized that tariffs will play a crucial role in President Trump’s economic strategy , highlighting plans to review global trade practices and enforce fair trade through reciprocal tariffs to protect U.S. industries and national security. 🔹 Key Takeaways from Navarro’s Remarks 🔹 U.S. to investigate global trade practices before imposing tariffs after April 1 . 🔹 Tariffs aim to reduce the $1 trillion annual U.S. trade deficit , which Navarro labeled a national emergency . 🔹 Focus on fairness: The U.S. seeks reciprocal tariffs —if countries lower tariffs on U.S. goods, the U.S. will reciprocate. 💬 Navarro: "America has the lowest tariffs in the world, and it’s not fair. President Trump wants a level playing field." 📊 Industries in Focus 🔹 Steel & Aluminum: Tariffs will remain due to national security concerns and global subsidies from countri...