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.
KUALA LUMPUR (Feb 28): The FBM KLCI fell 15.26 points or 0.8% with Asian shares as investors responded to weaker China and Japan manufacturing data amid anticipation of speedier US interest rate hikes. At 5pm, the KLCI closed at 1,856.20. Across Asia, Japan’s Nikkei 225 fell 1.44%. In China, Hong Kong’s Hang Seng dropped 1.36% while the Shanghai Stock Exchange Composite was 0.99% lower. Reuters reported that China's official Purchasing Managers' Index (PMI) released on Wednesday fell to 50.3 in February, from 51.3 in January. But it remained just above the 50-point mark that separates growth from contraction on a monthly basis. In Japan, trade ministry data out on Wednesday showed factory output fell 6.6 percent in January from the previous month. It was also reported that most emerging Asian currencies fell on Wednesday, while the dollar held firm near a three-week high after US Federal Reserve chairman Jerome Powell struck a hawkish tone in his ...