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.
The two-week strike at Boeing has significant implications for its suppliers, with companies like Pathfinder Manufacturing forced to furlough employees as the labor stoppage continues. Pathfinder's CEO, Dave Trader , reported that 14 out of 54 employees have been furloughed, and he expressed concerns about needing to send more workers home if the strike persists. Pathfinder operates a recruitment initiative aimed at attracting new talent to the aerospace industry, training students alongside skilled workers near Boeing's Everett jet factory, the largest manufacturing facility globally. The strike has also affected high school students participating in training programs, compounding challenges in an industry already struggling to find skilled labor. Impact on Employment and Supply Chain Boeing's labor disruption began on September 13, when about 30,000 machinists stopped working, halting production of the 737 MAX and older 767 and 777 models. As a result, the supply cha...