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.
Asia is entering its busiest week for earnings , with Chinese and Hong Kong-listed banks in the spotlight as investors look for signs of the potential impact from Beijing's stimulus measures . A total of 544 firms from the MSCI Asia Pacific Index will report their earnings this week, including major players like the Industrial and Commercial Bank of China Ltd , according to Bloomberg data. Investors will pay close attention to Chinese lenders' results , looking for any indications of increased credit demand , which could signal a recovery in consumer confidence . Chinese banks have faced challenges from slowing profit growth and narrowing interest margins , making their outlook critical for understanding the broader economic recovery. In Hong Kong, HSBC Holdings Plc will also be closely watched after its recent corporate structure revamp , which has attracted investor interest. This week’s earnings results are expected to provide key insights into the region’s economic he...