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.
Expanding White House Control President Donald Trump has been taking unprecedented steps to exert direct control over private companies — an approach more commonly seen in economic crises. His administration has negotiated ownership stakes, revenue-sharing deals, and veto power over corporate actions. So far, investors have mostly benefited , though the long-term outlook remains uncertain. Government-Backed Companies and Market Reactions Intel (INTC) The U.S. government took a 10% stake in Intel after Trump pressured its CEO to resign. Since the deal in August, Intel’s shares have risen 24% , far outpacing the S&P 500’s 1.8% gain in the same period. MP Materials (MP) The Department of Defense bought 15% of the rare earths miner. Shares have doubled since the news of government involvement, making rare earths one of the biggest winners. Lithium Americas Currently in talks with the government for a deal similar to...