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.
Bitcoin is up more than 27% this year , trading near $119,000 and just below its July 14 record high of $123,166. Its market cap now sits at $2.3 trillion , which would make it the sixth-largest company in the S&P 500 if it were a stock. Bull vs. Bear Scenarios Citigroup analysts estimate a potential bull case of $199,000 — about a 70% gain from current levels — and a bear case of $64,000 , a possible 50% drop. The wide range reflects how uncertain Bitcoin’s future remains, despite its historic run. Regulation: A Double-Edged Sword Recent momentum has been fueled by developments in Washington. The Genius Act , regulating stablecoins, and the potential Clarity Act could push crypto further into the financial mainstream. However, this is ironic given Bitcoin’s original vision as a currency outside government control. Scarcity and Demand Bitcoin’s limited supply of 21 million coins and regular “halvings” are seen a...