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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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Iron Ore Climbs as China Growth Data Looms – But Will Stimulus Fade?

Iron ore prices ticked up again on Monday, continuing last week’s rally — just as traders brace for China’s GDP figures, due Tuesday.

The Numbers:

  • Iron ore futures hit US$99.90/tonne, up 0.4% in Singapore

  • Last week saw a 3.6% gain — the best weekly performance since January

  • Chinese steel exports hit a record high of 30.7 million tonnes in Q2

  • Iron ore imports surged 22% in June compared to May

What’s Driving the Market?

  • Speculation of stimulus: Hopes are growing that Beijing will support the ailing property sector and reduce industrial overcapacity — both crucial for iron ore demand

  • China GDP Watch: If Q2 GDP hits or slightly surpasses the 5% target, that’s good news — but it could dampen the urgency for additional stimulus from policymakers

  • Trade diplomacy: Australian mining giants like BHP, Rio Tinto, and Fortescue are in Beijing this week alongside PM Anthony Albanese, aiming to stabilize trade ties amid rising protectionism

Broader Commodity Trends:

  • Copper nudged up to US$9,675.50/tonne after a rough week (–2.1%) due to Trump’s new 50% import tariff

  • Aluminum slipped 0.9%

Money Master Take:

Iron ore is trying to bounce back after five straight monthly losses, and China’s data could make or break that rebound.

  • ✅ If GDP exceeds expectations, it confirms real demand

  • ❌ But if growth slows and stimulus doesn’t follow, prices could reverse quickly

Meanwhile, rising steel exports and strong import demand reflect that China’s industrial engine is still humming — at least for now.

Keep an eye on policy shifts post-GDP release, and watch whether stimulus hopes turn into actual supportfor real estate and infrastructure.

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