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.
Billionaire Changpeng Zhao , the co-founder of Binance Holdings Ltd. , has vowed to continue investing in blockchain , artificial intelligence , and biotechnology following his release from US custody. In his first public comments since serving a four-month sentence , Zhao took to social media platform X to outline his long-term investment plans, emphasizing his focus on “ impact, not returns .” Zhao's release comes after Binance faced a $4.3 billion penalty under a plea deal to settle charges that allowed criminals and terror groups to use the exchange. As part of the agreement, Zhao personally paid a $50 million fine and stepped down as CEO of Binance, handing leadership over to Richard Teng . Binance will now face years of compliance monitoring by the Justice Department and the US Treasury’s Financial Crimes Enforcement Network . Zhao, who has a net worth exceeding $30 billion , also announced plans to launch Giggle Academy , a nonprofit online education platform, and ple...