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.
Thailand’s commercial banks have reported their fourth straight quarter of loan contraction , a worrying signal for the country’s economic outlook. Loan Growth Weakness Bank of Thailand (BOT) said outstanding loans shrank 0.9% in April–June, following a 1.3% drop in the first quarter. Non-performing loans (NPLs) inched higher to 2.91% (THB554.9 billion / RM72.1 billion) , up slightly from 2.9% in Q1. Lending to SMEs and consumers remains weak as banks tighten credit standards to control bad debt. BOT’s assistant governor Suwannee Jatsadasak warned that loan demand will likely remain subdued in Q3, with households already saddled with the highest debt ratio in Southeast Asia . Economic Headwinds Thailand’s economy grew just 2.8% in Q2 , down from 3.2% in Q1 . Weakness comes from US tariffs hitting exports and declining tourist arrivals . Thai firms remain cautious, focusing on dele...