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.
Jimmy Levin, Chief Investment Officer of Sculptor Capital Management, describes the rise of "creditor-on-creditor violence" in debt restructuring as a natural part of the capitalist system. He views the provision of fresh capital to companies restructuring their debt as one of the best opportunities in the corporate credit market over the past few years. Key Takeaways: Restructuring as an Opportunity : Levin emphasizes that liability management exercises, where companies secure new financing that prioritizes new creditors over existing ones, have become more prevalent in the last decade. He sees this trend as a manifestation of capitalism, with credit investors needing to anticipate and navigate these situations effectively to avoid losses and capitalize on opportunities. Growing Trend of Creditor Conflicts : The increase in debt restructuring maneuvers often pits different groups of creditors against each other, creating situations Levin terms "creditor-on-creditor viol...