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.
Nvidia Corp. shares have recently rebounded, but one analyst believes the real key to a sustained recovery lies not in artificial intelligence (AI) spending, but in the company’s gross profit margins . Key Takeaways : Focus on Gross Margins : While Wall Street worries about potential lower spending on AI infrastructure , Vivek Arya , an analyst at Bank of America (BofA) , argues that Nvidia’s gross margins are the real focus for investors. He pointed out that Nvidia’s stock peaked last year around the same time gross margins hit 79% , which was unusually high. Current Margin Trends : In the latest quarter, Nvidia’s gross margin was 73% , impacted by the transition to its new Blackwell product line . Arya expects this to be a trough and forecasts margins will improve to the mid-70% range in the second half of the fiscal year. Market Position : Despite increased competition from companies like...