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.
The Singapore stock market has posted gains for three consecutive sessions, advancing almost 80 points or 2.3% in that period. The Straits Times Index (STI) now sits just above the 3,530-point level and is expected to extend its gains again on Thursday. The global forecast for Asian markets is positive, supported by optimism over the outlook for interest rates. While European markets showed mixed results, U.S. markets were up, suggesting that Asian markets are likely to follow the positive lead from the U.S. On Wednesday, the STI finished modestly higher, buoyed by gains in financial shares, property stocks, and industrial issues . The index added 18.50 points or 0.52% to close at 3,531.17 , after trading between 3,517.56 and 3,536.12 . Active Stocks and Movements Among the actively traded stocks: CapitaLand Integrated Commercial Trust spiked 1.42% . CapitaLand Investment surged 2.15% . City Developments rose 0.19% . ComfortDelGro gained 0.68% . DBS Group collected 0.30% . ...