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.
Key Takeaway: Five stocks at Bursa Malaysia exhibited negative momentum as of the afternoon close on Tuesday, with varied price and volume movements identified using a proprietary algorithm. Stocks with Negative Momentum: PLB Engineering Bhd (KL ): Price Movement: Up 1 sen (+0.88%) to RM1.15 . Analabs Resources Bhd (KL ): Price Movement: Up 1 sen (+0.54%) to RM1.86 . Magni-Tech Industries Bhd (KL ): Price Movement: Unchanged at RM2.54 . Classita Holdings Bhd (KL ): Price Movement: Unchanged at 6.5 sen . Cypark Resources Bhd (KL ): Price Movement: Unchanged at 90 sen . Insights on Momentum: The negative momentum indicator suggests a potential declining trend in price on increased trading volume . Momentum typically persists for a short period , and price movement could shift in either direction. Evaluation Tips: This list is not a buy or sell recommendation . Investors should review each stock’s fundamental and valuation scores for a better understanding of its potential. For i...