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.
Japanese automakers are slashing vehicle export prices to the United States at record levels to stay competitive under President Trump’s 25% auto tariff — even if it means sacrificing profit margins. Record Price Drop The export price index for Japanese vehicles shipped to North America fell 19.4% YoY in June , the sharpest decline since 2016, according to the Bank of Japan (BOJ) . This marks a strategic pricing move to absorb the tariff shock without passing costs to US consumers. Key Insights The move highlights Japan’s reluctance to raise prices , a tactic aimed at preserving US market share despite rising costs. Automakers like Subaru Corp. have raised prices modestly but are still largely absorbing the hit. Car exports to the US fell 24.7% by value , but only 3.9% by volume in May — proving the price cuts are working to maintain demand. BOJ's Dilemma BOJ Governor Kazuo Ueda is watc...