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.
Penang Chief Minister Chow Kon Yeow announced that Penang has seen a surge in inquiries from Chinese companies seeking investment opportunities over the past year, reflecting growing confidence in the region's economic potential and business-friendly environment. Key Takeaways: Investment Inquiries: There has been a significant increase in inquiries from Chinese companies interested in investing in Penang and Malaysia. However, many companies are cautious about moving their investments outside China due to capital outflow concerns. APSSE Event Announcement: The announcement was made at a press conference for the upcoming 2024 Asia Pacific Semiconductor Summit and Expo (APSSE), scheduled to take place from October 16 to 18 at the Spice Convention Centre. The event is hosted by the Malaysia Semiconductor Industry Association (MSIA) in partnership with the China Electronic Production Equipment Industry Association (CEPEA) and supported by the Penang government. MSIA President's ...