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 US exchange-traded fund (ETF) industry, valued at $10.4 trillion , witnessed an eventful 2024, marked by record inflows and fund launches alongside near-unprecedented closures. Here's an overview of the year's key trends: A Mixed Bag: Record Launches and Closures Closures: Nearly 200 ETFs shut down in 2024, approaching early-pandemic termination rates. Funds focused on ESG themes , China , and cannabis saw significant closures. Launches: Over 700 new ETFs debuted , marking a record second-consecutive year of launches. Successful launches included Bitcoin and Ether spot ETFs and leveraged single-stock ETFs targeting popular stocks. Saturated Market Challenges The US market now hosts 3,900 ETFs , making it increasingly difficult for new funds to achieve scale. Many ETFs fail to meet the asset and trading thresholds required by institutional investors and trading platforms....