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.
Sector Outlook: POSITIVE The U.S. Department of Energy has launched a major initiative to rebuild the country’s nuclear fuel supply chain. This move could significantly benefit Energy Fuels (UUUU), which owns key uranium production infrastructure in the U.S. Key Highlights DOE Initiative Could Be a Game-Changer DOE has called for applications from U.S. companies to build and operate nuclear fuel production lines. Goal: Reduce reliance on foreign uranium and support advanced nuclear reactor development. Fast-tracked approval process aims to attract private investments while de-risking participation. Energy Fuels in Prime Position Operates White Mesa Mill in Utah — the only fully licensed uranium mill in the U.S. Well-positioned with the infrastructure and experience to align with DOE goals. Long-standing ambition to build a fully integrated domestic fuel cycle puts the company ahead of peers. Strong Price Momentum, Weak Fundamentals Energy Fuels stock surged 6.19% to close at $8.24 — ju...