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.
Trump wants cuts. Markets want clarity. The Fed says: not so fast. While central banks around the globe are slashing interest rates in response to tariff turmoil and cooling inflation, the Federal Reserve remains cautious — resisting political pressure from President Trump to loosen monetary policy. Key Takeaways from Bloomberg’s Global Rate Watch : 🔹 Fed (US): ➡ Current: 4.5% | Forecast: 4.25% ➡ One rate cut expected —possibly in Q4. ➡ Trump wants action, but policymakers are wary of inflation risks from tariffs. 🔹 ECB (Europe): ➡ Forecasts two more cuts this year to 1.5%. ➡ Tariff threats on pharma exports weigh on eurozone growth. 🔹 BOJ (Japan): ➡ Could raise rates slightly amid inflation and wage growth, but politics may delay action. 🔹 BOE (UK): ➡ Expected to cut rates twice by year-end as job markets weaken and inflation stays sticky. 🔹 BOC (Canada): ➡ Two rate cuts likely this year due to softening growth. ...