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.
Blackstone Inc. is issuing $1.05 billion in commercial mortgage-backed securities (CMBS) to help finance its April acquisition of AIR Communities, a major apartment landlord. The debt issuance includes six tranches of securities with ratings from AAA to BB-, backed by an interest-only loan at a floating rate. Key Takeaways: Supporting a $10 Billion Acquisition : The bond sale is part of Blackstone's broader financing strategy for its $10 billion purchase of Apartment Income REIT (AIR Communities). The acquisition deal, announced in April, includes a commitment from Blackstone to invest over $400 million to enhance and maintain the portfolio of apartment properties under AIR Communities. Recent Trends in CMBS Issuance : The $1.05 billion in bonds adds to an earlier $2.95 billion CMBS sale in July, also backed by AIR Communities assets. The issuance comes amid a strong market for CMBS, with total sales reaching $69.7 billion this year. Despite spreads being wider than at the start of...