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.
Despite recent rainfall, the Jennings Creek Fire near the New York-New Jersey border continues to spread, covering about 5,000 acres and is only 20% contained . Strong winds have fueled the fire’s growth. The blaze, located approximately 30 miles from New York City, has led to "very high" fire danger warnings in Northern New Jersey, despite slightly easing due to overnight rain. Tragically, Daniel Vasquez, an 18-year-old New York State Parks employee , lost his life while fighting the fire in Sterling Forest. The fire has prompted authorities to keep the area on alert, with winds expected to strengthen. On the West Coast, California’s Mountain Fire, now 36% contained , continues to pose challenges with strong winds forecasted.