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.
Norway's central bank kept interest rates steady at a 17-year high of 4.5% , postponing a long-expected rate cut as inflation rose faster than anticipated . Key Points: Norges Bank had earlier hinted at a 0.25% rate cut in March, but reversed course due to inflation risks. Core inflation in February jumped to 3.4% from 2.8% in January — far above the 2% target. Governor Ida Wolden Bache warned that cutting rates too soon may fuel further price rises . The policy rate is now projected to fall to 4.0% by year-end , higher than the previous forecast of 3.75%. Longer-term, Norges Bank sees a gradual rate decline in the coming years. The Norwegian crown strengthened slightly following the decision, trading at 11.34 against the euro. Economic Outlook: Norges Bank raised its core inflation forecast for 2025 to 3.4% , up from 2.7%, and 2.9% for 2026. Despite global uncertainty, Norwegian businesses expect stable growth , wi...