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.
China Vanke — once seen as the "too-prudent-to-fail" face of China’s property market — is now asking banks for up to 10 years to repay some of its loans. The move underscores the deep liquidity crisis facing one of China’s largest state-backed developers. The Ask Vanke has proposed to major Chinese banks a loan extension of up to a decade , sources tell Bloomberg. Some banks are reviewing the request, while others hesitate — waiting on regulatory signals before committing. Why now? Because the numbers don’t lie: 361 billion yuan in total interest-bearing debt (as of 2024) 44% of that debt matures within 12 months 258 billion yuan of that debt = bank loans A Grim First Half Vanke recently warned of a US$1.67 billion (RM7.09 billion) net loss in 1H2025 — deeper than expected, amplifying its repayment pressure. Despite being state-backed, Vanke has struggled to withstand China’s 5-year property ...