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Market Daily Report: Bursa Malaysia Ends Higher On Blue-Chip Buying, Tracks Most Regional Markets

KUALA LUMPUR, July 31 (Bernama) -- Bursa Malaysia ended higher on Friday as investors continued to accumulate blue-chip stocks in line with stronger performances across most regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.50 points to 1,724.90 from yesterday’s close of 1,720.40. The benchmark index opened 0.83 of a point higher at 1,721.23, and moved between 1,715.67 and 1,730.12 throughout the day. The broader market was positive with gainers outpacing losers 707 to 402, while 547 counters were unchanged, 1,085 untraded and 56 suspended. Turnover expanded to 3.03 billion units valued at RM3.56 billion from 2.49 billion units valued at RM2.25 billion on Thursday.
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Thailand to Offer Investment Incentives for Hybrid Vehicle Manufacturers

 

Thailand, a key regional hub for auto manufacturing, will introduce new investment incentives for hybrid vehicle manufacturers. The Board of Investment (BOI) announced on Friday that excise taxes for hybrids will be lowered from 2028 to 2032.

Key Points:

  • Incentive Details: The BOI will lower excise taxes for hybrid vehicle manufacturers who invest at least three billion baht (US$1.39 billion or RM6.5 billion) within the next four years, provided they use local parts and incorporate advanced driver-assistance systems.
  • Strategic Importance: BOI secretary general Narit Therdsteerasukdi emphasized that hybrid technology is crucial for the transition to electric vehicles. Supporting hybrid production is expected to help maintain auto parts manufacturing in Thailand.
  • Investment Impact: The measures are projected to attract investments worth 50 billion baht.
  • Regional Production Hub: Thailand has long been a regional center for auto production and an export base for leading carmakers, including Toyota and Honda. Recent investments by Chinese electric vehicle makers like BYD and Great Wall Motor have further invigorated the industry.
  • Current Incentive Recipients: Currently, seven automakers benefit from BOI incentives, including four from Japan and three from China.

This initiative underscores Thailand’s commitment to bolstering its position as a leading auto production hub while transitioning towards more sustainable vehicle technologies.

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