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.
Capital A Bhd saw its shares drop 7% to RM1.01 in early trade on Friday, reducing its market value to RM4.6 billion , following a 3QFY2024 performance that fell below most analysts' expectations despite being boosted by forex gains . 3QFY2024 Highlights: Core loss after tax and minority interest (Latmi): RM143.4 million , bringing 9MFY2024 loss after tax to RM119.5 million . Results missed Hong Leong Investment Bank’s (HLIB) projection of RM754.9 million Patmi but aligned with consensus of RM459 million Patmi . Excluded exceptional items (EIs) totaling RM1.2 billion , primarily due to RM1.5 billion forex gains , offset by deferred tax losses. Quarter-on-Quarter Performance: Core Latmi worsened from RM57.6 million in the previous quarter to RM143.4 million , driven by: Seasonally weak yields. Higher costs. Losses from ADE MR...