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.
Brussels Eyes Stronger Trade Defenses The European Commission is preparing to impose tariffs ranging between 25% and 50% on Chinese steel and related products in the coming weeks, according to a report by German daily Handelsblatt , citing senior Brussels officials. The move underscores Europe’s determination to protect its steelmakers from mounting pressure caused by global oversupply and China’s aggressive export push. The Commission declined to comment on the report. Protecting Producers Amid Decarbonisation Push Earlier this month, Commission President Ursula von der Leyen said Brussels would introduce a new framework to curb steel imports. She emphasized the need to safeguard European producers as they invest heavily in decarbonisation technologies , warning that persistent global overcapacity is squeezing industry margins. Under World Trade Organization (WTO) rules, the EU cannot extend existing safeguard measures beyond ...