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.
China's rural banks are drawing public scrutiny after launching controversial loan products that help low-income earners and the elderly make up for shortfalls in their pension contributions. This unusual lending tactic is aimed at boosting participation in China’s underfunded pension system — but it’s raising eyebrows over the potential debt burden on financially vulnerable groups . What’s Happening? Banks in Hunan and Sichuan provinces began offering loans to fund social insurance contributions — either to increase future pensions or to meet the 15-year eligibility requirement. Loan sizes : Typically around ¥90,000 (≈US$12,500) Terms : Up to 15 years , with interest rates between 3.1% and 3.45% Some loans are capped at age 65 One example: Agricultural Bank of China confirmed issuing such a loan in Tibet to help a resident cover pension contributions. The Controversy While...