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.
Key Takeaways for Investors: Tariff Impact Hits Debt Markets: Auto bonds slumped on Thursday after President Trump imposed 25% tariffs on imported vehicles , set to start April 3. Yields widened as investor concerns over higher vehicle costs and potential profit erosion intensified. VW & BMW Bonds Under Pressure: Volkswagen’s 5.35% 2030 bonds , issued just last week, saw their spreads widen by 24 basis points to 135 bps. BMW’s 5.4% 2035 bonds also weakened, with spreads rising 6 basis points to 122 bps. Bonds from Honda and GM showed similar lagging performance. Auto Debt Trails Broader Market: Spreads on high-grade auto bonds have widened 26 bps YTD , more than double the 10 bps widening in the overall high-grade corporate bond market. Automakers like Volkswagen, Toyota, Mercedes-Benz, and Hyundai are most exposed to rising funding costs. Primary Market Cooling Off: French parts supplier Forvia SE ...