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.
The Selangor government plans to build 60,000 affordable housing units under the Rumah Idaman initiative by 2027, according to Menteri Besar Datuk Seri Amirudin Shari. He stated that the construction momentum is progressing well, with 40,000 units currently awaiting planning and building permissions, and 10,000 units already under construction.
Amirudin shared these updates during the Rumah Idaman, Putra Idaman, and Saujana Idaman groundbreaking ceremony. The Rumah Idaman initiative is designed to meet the increasing demand for affordable homes, particularly for Malaysians in the bottom 40% (B40) and middle 40% (M40) income groups, catering primarily to first-home buyers and small families.
The Putra Idaman project, a collaboration between Oriental Interest Bhd (OIB) and Permodalan Negeri Selangor Bhd (PNSB), will feature 502 semi-furnished units across two apartment blocks, each priced at RM250,000. Completion is expected in 2028, with units designed to be spacious and include air conditioning as part of the package.
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