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.
Singapore 's Deputy Prime Minister, Gan Kim Yong , has issued a stark warning about the potential ripple effects of escalating tariffs, particularly those imposed by the U.S. under President Donald Trump , on global economic growth. His comments reflect growing concerns across Asia , a region highly reliant on trade. Key Highlights: Tariff Concerns : Gan expressed anxiety over the U.S. tariffs on its three largest trading partners — China , Canada , and Mexico — and the prospect of further tariff measures. He cautioned that these actions could lead to a cascade of retaliatory tariffs , significantly disrupting global supply chains and hindering trade and investment flows. Global Economic Impact : According to Gan, the rise in tariffs and the ongoing trade wars could severely slow down global economic growth , even for countries that are not directly affected by these tariffs...