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.
As the July 9 tariff deadline approaches, Asian equities are treading water while the US dollar continues to unravel , sinking to levels last seen in 2022. With President Trump refusing to extend the trade deal negotiation timeline and Federal Reserve Chair Jerome Powell holding off on rate cuts, investors find themselves navigating a minefield of uncertainty, risk, and fragile sentiment . Tariff Tensions Heat Up President Trump has made it clear: there will be no delay to the July 9 tariff deadline. Countries have until then to strike bilateral trade deals—or face new levies. “We’re not extending. If they don’t deal, they’ll get tariffs,” Trump said bluntly. Markets are reacting. Japan’s Nikkei shed nearly 0.8%, led lower by tech names, while Taiwan and South Korea—heavily exposed to global chip demand—also pulled back. MSCI Asia ex-Japan edged down 0.23% after flirting with 2021 highs last week. Fed in ‘Wait and See’ Mode While President Trump conti...