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.
Japan’s latest 40-year government bond sale delivered stronger-than-average demand , offering temporary relief to markets after weeks of sharp volatility in long-term yields. Quick Summary 40-year bond auction beat demand expectations Yields eased after last week’s record spike Election-driven fiscal concerns remain unresolved More volatility likely in bonds and yen markets What Happened The bid-to-cover ratio came in at 2.76 , above the previous auction ( 2.585 ) and the 12-month average of 2.53 The 40-year yield fell 3.5 basis points to 3.9% after the auction Demand eased immediate fears over Japan’s long-term debt , though uncertainty remains elevated Why This Matters The auction followed a turbulent week in Japanese bond markets, triggered by fiscal and political shocks: Long-dated yields spiked to record highs after Prime Minister Sanae Takaichi proposed a two-year removal of food sales tax Forty-year yie...