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.
The Ministry of Transport (MOT) announced the continuation of subsidies for one-way flight tickets between Peninsular Malaysia and Sabah, Sarawak, and Labuan during major festive seasons for this year and next year.
Key Details:
- Subsidy applies to Christmas 2024, and for Chinese New Year, Hari Raya Aidilfitri, Kaamatan, Gawai, and Christmas 2025.
- Subsidy covers one-way tickets priced over RM499, excluding taxes and fees, with the government absorbing the difference between the original ticket price and the capped RM499 rate (lowered from the previous RM599 threshold).
Implementation Periods:
- Christmas 2024: Dec 21–24
- Chinese New Year 2025: Jan 25–28
- Hari Raya Aidilfitri 2025: March 27–30
- Kaamatan 2025: May 26–29
- Gawai 2025: May 28–31
Ticket Terms:
- Fixed fare tickets will be available starting 12:01 AM on Dec 6 via airline websites.
- Restrictions include:
- No date or flight changes.
- No name changes.
- Tickets are non-refundable.
Consumer Protection:
Passengers will be safeguarded under the Malaysian Aviation Consumer Protection Code 2016 (MACPC), with airlines potentially offering improved terms while adhering to the code.
This initiative aims to ease travel costs for citizens returning home for festive celebrations, enhancing affordability and accessibility during peak travel seasons.
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