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 FBM KLCI surged 1.16% to 1,535.73 , hitting a two-week high on Thursday, buoyed by gains in banking and energy stocks , even as Wall Street dipped on Trump’s proposed 25% tariffs on imported vehicles . Market Summary Wall Street Recap S&P 500: 5,693.31 ( -0.33% ) Dow Jones: 42,299.70 ( -0.37% ) Nasdaq: 17,804.03 ( -0.53% ) Market sentiment was cautious as Trump’s auto tariffs reignited trade tension fears , especially impacting the tech-heavy Nasdaq. Bursa Malaysia Highlights FBM KLCI: 1,535.73 ( +1.16% ) Top Gainer: Gamuda (RM4.32, +7.73%) Top Loser: Axiata (RM1.84, -1.60%) USD/MYR: 4.4315 ( +0.05% ) KLCI saw its strongest single-day gain since March 13 , reflecting local resilience and limited exposure to U.S. auto trade . Economic & Sectoral Developments Producer Price Index (PPI): Feb 2025 PPI growth slowed to 0.3% y-o-y (from 0.8% in Jan), driven by ...