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.
Italian inflation has dipped below 1% , intensifying pressure on the European Central Bank (ECB) to expedite interest rate cuts. According to Italy’s statistics institute, consumer prices rose by only 0.8% year-over-year in September, down from 1.2% in August. This deceleration is attributed primarily to declines in energy, transport, and communication costs, aligning with analyst expectations from a Bloomberg survey. These figures are part of a broader trend across the 20-nation euro zone , with inflation readings in France and Spain also falling below the ECB’s target of 2% . In light of this, investors have significantly increased bets that October will see the third reduction in borrowing costs for the year. Data from six German states indicated moderation ahead of the national figures, which are due later today. For the euro zone as a whole, analysts anticipate inflation to be around 1.8% based on Bloomberg polls. Implications for ECB Policy “Underlying inflation declined t...