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.
Tesla Inc. announced the recall of 694,304 vehicles in the United States on Friday due to a tire pressure monitoring system (TPMS) issue that may fail to alert drivers to low tire pressure. Key Details 1. Recall Scope Affected Models : Model 3 , Model Y , and Cybertruck vehicles. Issue : The TPMS warning light may not stay illuminated between drive cycles, potentially causing drivers to unknowingly operate vehicles with improperly inflated tires , increasing the risk of a crash. 2. Resolution Tesla will address the issue with an over-the-air (OTA) software update , a hallmark of the company’s approach to recalls. Tesla Recall Trends 1. 2024 Recall Statistics Tesla vehicles accounted for 21% of all US recalls in the first three quarters of the year, according to BizzyCar . Most recalls were resolved through OTA software updates , avoiding the need for physical repairs. 2. September Quarter Rec...