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.
President-elect Donald Trump ’s transition team is reportedly preparing executive orders and proclamations to withdraw the United States from the Paris climate agreement . According to a New York Times (NYT) report, Trump’s team is also considering actions to reduce the size of national monuments to open up areas for drilling and mining. In addition to exiting the climate deal, Trump is expected to lift the pause on permitting new liquefied natural gas (LNG) exports to markets in Asia and Europe. The transition team is also preparing to revoke a waiver that allows California and other states to maintain stricter pollution standards. Trump’s transition spokesperson, Karoline Leavitt , confirmed that the election results gave Trump a mandate to fulfill his campaign promises, asserting that he would deliver on these actions. Additionally, the Biden administration had previously paused approvals of new LNG exports in January to assess the environmental and economic impacts. The U.S. Ene...