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 (Nov 30): The FBM KLCI closed down 44.88 points or 2.79% at 1,562.71 today after diving in the final trading hour against a confluence of factors including lower crude oil prices and equity losses as investors weighed Malaysia's corporate financial results amid Covid-19 driven economic weakness. Across Bursa Malaysia at 5pm, 9.02 billion securities were traded for RM7.71 billion. Bursa’s Financial Services index fell the most in percentage terms at 3.22% among bourse gauges. Top declining stocks included KLCI entities Petronas Dagangan Bhd, Public Bank Bhd, Tenaga Nasional Bhd, Petronas Chemicals Group Bhd and Malayan Banking Bhd (Maybank). Rakuten Trade Sdn Bhd research vice president Vincent Lau told theedgemarkets.com that the drop in the KLCI today might have just been a minor pullback, after a favourable performance throughout the month of November. "It was probably just the month-end rebalancing of portfolios [by investors]. Market sentiment ...