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.
Penang’s critical E&E export hub is bracing for turbulence , as a looming 25% US tariff threatens to shrink air cargo volumes and slow semiconductor trade just as global demand begins to recover. Why It Matters: Penang International Airport, Malaysia’s largest air cargo hub, handles 70% of the country’s air shipments — mainly finished and semi-finished semiconductors. With 60% of Malaysia’s exports to the US comprising electrical and electronic (E&E) products , the impact could be widespread. Air cargo volume may shrink by 15% in 2025 as shipments to the US drop. “When the industry is affected, the volume of cargo handled also drops correspondingly,” — Ali Ahmad, Penang Freight Forwarders Association What Triggered This? Earlier this month, the US imposed a 25% import tariff on all Malaysian goods , effective August 1 . While negotiations are underway, semiconductor-specific tariffs may still apply separately — cr...