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: Disney’s fiscal 4Q earnings beat expectations with strong gains from blockbuster films and a second profitable quarter for Disney+, forecasting further growth for the next three years. Walt Disney Co reported a strong fourth quarter, with earnings per share at $1.14 , surpassing analyst predictions of $1.10. Disney projects high-single-digit growth in 2025 earnings and double-digit growth in 2026 and 2027, signaling confidence in its long-term profitability. Shares rose 10% in premarket trading. Disney’s success this quarter was driven by hit films like Inside Out 2 and Deadpool & Wolverine , alongside improved profitability in its streaming business. Disney+ subscribers reached 158.6 million , slightly above estimates, with some decline expected in early fiscal 2025 due to price adjustments. The direct-to-consumer segment , including Disney+, Hulu, and ESPN+, posted a $321 million profit , outpacing Wall Street’s $202.9 million forecast. While Disney’s tradi...