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.
At least US$1 billion worth of banned Nvidia AI chips have reportedly made their way into China through unauthorized channels in the months following tighter U.S. export restrictions, according to the Financial Times . The smuggled chips include high-end B200 processors , which are barred from sale in China under U.S. national security controls. Key Highlights: Banned but available : Despite restrictions, Nvidia’s B200, H100, and H200 chips are widely available in China’s gray market , with multiple distributors from Guangdong, Zhejiang, and Anhui provinces involved. Black market surge : The chips reportedly surfaced in May and were sold to data center suppliers serving Chinese AI firms , even as U.S. policy aimed to cut China off from advanced AI hardware. Southeast Asia's role : Countries in Southeast Asia , including Thailand , have become key transit points for these restricted chips, according...