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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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Malaysia’s Data Centre Boom Intact Despite AI Chip Export Risks — RHB Still Bullish on Construction

Top picks: Gamuda, Sunway Construction, Binastra

RHB Investment Bank has reaffirmed its OVERWEIGHT rating on Malaysia’s construction sector, maintaining confidence despite potential US export restrictions on AI chips to Malaysia and Thailand.

What's happening?
The US is reportedly drafting a rule to curb AI chip shipments over concerns they may be rerouted to China. But the proposal:

  • Is not finalized, and

  • Includes a grace period for US firms and allies to continue shipments without a licence.

Why RHB remains positive:

  • Strong pipeline of data centre (DC) projects continues.

  • Ongoing investment from global tech giants like Google, AWS, Microsoft, and Oracle in Malaysia’s DC infrastructure.

  • Possible exemptions for “friendly nations” and validated firms could soften any export ban impact.

Key DC hotspots:

  • Elmina Business Park Phase 2

  • Eco Business Park V, Puncak Alam

  • Port Dickson (500–700MW capacity)

  • Nilai (US-backed project)

🏗️ Estimated pipeline:

RM7.4 billion in potential construction value from five ongoing DC projects.

RHB's Top Construction Picks:

  • Gamuda

  • Sunway Construction Group (SCGB)

  • Binastra

Risks:
A sudden US policy shift could delay projects — but RHB believes foreign demand and infrastructure momentum will carry the sector through near-term noise.

Investor takeaway:
Despite geopolitical uncertainty, Malaysia’s DC-driven construction boom is real — and the big names are still building.

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