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Market Daily Report: Selective Buying Of Defensive Stocks Lifts Bursa Malaysia Higher At Close

 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.
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MyDigital Corp and Bursa Malaysia Join Forces to Drive Digital Innovation in ESG

 

MyDigital Corporation and Bursa Malaysia Bhd have signed a memorandum of collaboration (MOC) to enhance environmental, social, and governance (ESG) practices among public listed companies (PLCs) in Malaysia through the use of digital technologies. This partnership aims to foster innovation, knowledge sharing, and the adoption of Fourth Industrial Revolution (4IR) technologies to achieve sustainability goals.

Key Highlights:

  1. Collaborative Initiatives for ESG Adoption: The MOC will support various initiatives, such as co-authoring thought leadership publications, sharing best practices, and organizing the Malaysia Centre4IR ESG Innovation Challenge. These efforts align with the government's digital transformation agenda, which seeks to promote the use of advanced technologies to address pressing ESG challenges.

  2. Commitment to Digital and Sustainable Transformation: Speaking at the MOC signing ceremony, Digital Minister Gobind Singh Deo emphasized the government's commitment to integrating sustainability into development strategies. He highlighted Malaysia’s ambition to lead in the ESG space, supported by efforts like Bursa Malaysia’s mandate for PLCs to disclose their sustainability practices in annual reports.

  3. Launch of the MYCentre4IR ESG Innovation Challenge: Bursa Malaysia CEO Datuk Muhamad Umar Swift announced the MYCentre4IR ESG Innovation Challenge, designed to encourage partnerships between corporations and start-ups. The challenge seeks innovative solutions utilizing digital technologies, such as automation, artificial intelligence, and data analytics, to meet specific ESG objectives. Five PLCs — CJ Century Logistics, Globetronics Technology, Malayan Banking, REDtone Digital, and Sunway Innovation Labs — are participating, showcasing a commitment to advancing sustainability.

The challenge will culminate on November 7 with a Demo Day at Bursa, where the top five ideas will be presented and awarded pilot project funding opportunities, along with access to a network of industry leaders and investors.

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