KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
On Monday, Britain will become the first G7 country to end coal-fired power production, marking a significant milestone in the nation's journey toward climate targets. The closure of Uniper’s Ratcliffe-on-Soar plant in England’s Midlands signals the end of over 140 years of coal power in the UK.
Back in 2015, Britain set a goal to phase out coal plants within a decade, when nearly 30% of its electricity came from coal. By last year, this figure had dropped to just over 1%.
“The UK has proven that it is possible to phase out coal power at unprecedented speed,” said Julia Skorupska, Head of the Powering Past Coal Alliance, which includes around 60 national governments working to eliminate coal power. This phase-out has significantly contributed to the halving of Britain's greenhouse gas emissions since 1990.
Britain aims for net zero emissions by 2050 and plans to decarbonize its electricity sector by 2030, relying heavily on renewable sources such as wind and solar power.
"The era of coal might be ending, but a new age of good energy jobs for our country is just beginning," said energy minister Michael Shanks.
In contrast, coal power still constitutes over 25% of Germany’s electricity and more than 30% of Japan’s power, showing the significant challenge other nations face in reaching the same target. The G7 nations agreed in April to scrap coal power by the mid-2030s, though some countries heavily reliant on coal have been granted more flexibility, drawing criticism from environmental groups.
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