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.
The yen carry trade , an investment strategy that involves borrowing in yen at low interest rates and investing in higher-yielding assets, is regaining popularity after a turbulent year. Despite the risks, low volatility in currency markets and wide interest rate differentials are drawing investors back into the trade. Key Drivers of the Revival Growing Short Positions on the Yen Bearish bets on the yen surged to US$13.5 billion in November, up from US$9.74 billion in October, according to Bloomberg analysis. Investors are leveraging Japan's ultra-low interest rates to fund investments in higher-yielding assets globally. Wide Interest Rate Differentials Bank of Japan (BOJ) : Benchmark rate remains at 0.25% , with potential for only modest hikes. US Federal Reserve : Despite a recent rate cut to 4.5%-4.75% , US yields still far outpace Japan's rates. Profitability of Yen-Funded Trades Yen carry trades targeting major and emerging-market currencies have returned 45% since 20...