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 now builds the majority of the world’s commercial ships. The US wants to reclaim ground—but at what cost? What’s Happening China accounts for over 1/3 of all ships currently trading and 57% of ships under construction . The US proposes up to $3.5 million in port fees for Chinese-built or operated vessels. The goal: revive US shipbuilding and reduce reliance on Chinese yards. Why It Matters The US hasn’t produced commercial ships at scale since the 1970s. China’s rise was fueled by $132B in state support , cheap labor, and strategic planning. Proposed US rules also push for more exports on US-flagged and US-built ships —up to 15% by year 7. Market Impact 83% of container ships calling at US ports in 2024 would have been hit with fees under the new rules. Shipping companies, exporters, and retailers warn of higher costs, inflation, and disrupted trade. Smaller US ports and low-margin exporters may be most...