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Market Daily Report: Bursa Malaysia Ends Higher Amid Strong Interest In Utility, Tech Stocks

KUALA LUMPUR, Dec 4 (Bernama) -- Bursa Malaysia rallied to close broadly higher on Wednesday amid strong buying interests mainly in utility and technology stocks, with the benchmark index gaining 0.44 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.13 points to 1,614.09 from Tuesday’s close of 1,606.96.  The index opened marginally higher at 1,606.97 and moved between 1,606.53 and 1,616.03 throughout the day. Advancers thumped decliners 727 to 381 on the broader market, with 522 counters unchanged, 781 untraded and 10 suspended. Turnover advanced to 3.60 billion units valued at RM3.30 billion versus 3.32 billion units valued at RM3.30 billion on Tuesday.
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Government to Introduce Cost of Living Indicator for Better Targeted Subsidies

The Malaysian government is set to launch a Cost of Living Indicator (IKSH) to design more targeted subsidy programmes tailored to the specific needs and spending habits of Malaysians, according to Datuk Armizan Mohd Ali, Minister of Domestic Trade and Cost of Living (KPDN).

Key Highlights

  1. Purpose of IKSH

    • Refines subsidy programmes to ensure aid reaches those most in need.
    • Enhances both existing and future initiatives for better planning and execution.

  2. Budget Allocation

    • RM700 million allocated under Budget 2025 to implement new measures aimed at easing the cost of living.
    • Supports region-specific programmes and improves current initiatives for target groups.

  3. Targeted Subsidies and Costs

    • Addressing concerns over targeted diesel subsidies, the minister noted that price increases are driven by demand and supply factors, not subsidies.
    • Stakeholders are encouraged to report any suspected price hikes related to subsidies for investigation.

  4. Goals of the IKSH

    • Focuses on addressing basic necessities.
    • Empowers citizens to participate meaningfully in society.

Minister’s Comments

Armizan emphasized the government's commitment to delivering effective aid while ensuring consumers are not overly burdened by costs. He assured stakeholders that concerns would be addressed individually to mitigate any adverse effects.

This initiative aligns with ongoing subsidy reforms, aiming to improve the efficiency and impact of government assistance programmes for Malaysians.

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