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.
1. Global Markets
U.S. equities continued their upward climb with the S&P 500 (+0.54%), Nasdaq (+0.75%), and Dow Jones (+0.52%)all closing higher on July 17.
Key Drivers:
Strong Q2 results from PepsiCo (+7.45%), United Airlines, Taiwan Semiconductor, and GE Aerospace boosted investor sentiment.
Markets shrugged off President Trump’s proposed 10–15% tariffs on over 150 countries and his criticism of Fed Chair Powell.
Retail sales rose 0.6% MoM, beating forecasts and reversing May’s decline.
Jobless claims fell, suggesting consumer resilience despite tariff noise.
US 10-year Treasury yield climbed to 4.46%, reflecting expectations of slower Fed rate cuts amid robust data.
2. Malaysia Markets
Macro Snapshot:
USD/MYR closed at 4.2420 (+20 pips) amid tariff concerns.
MGS 10-year yield dipped to 3.43% (-0.29%).
KLCI rose to 1,520.94 (+9.44 pts), lifted by gains in key sectors.
Sector Performance:
Top Gainers:
Construction: +1.44%
Industrial Products: +0.89%
Financials, Energy, and Telcos also saw moderate gains
Mild Declines in: Healthcare, REITs, Technology
Foreign Equity Flow (MYR mil) (17 July):
Daily: -173
MTD: -260
QTD: -530
- YTD: -12,129👉 Foreign outflows continue as investors weigh US tariff implications on trade.
3. Trade in Focus: MALAKOF (5264.MY)
MALAKOF closed at RM0.880. The company is active in:
Power generation
Renewable energy
Environmental solutions (waste mgmt, water treatment)
Analyst Ratings (Bloomberg):
| Research House | Rating | Target Price | Date |
|---|---|---|---|
| UOB | Buy | RM1.08 | 14-Jul-25 |
| Ambank | Buy | RM1.06 | 10-Jul-25 |
| TA Securities | Buy | RM1.08 | 26-Jun-25 |
Potential upside flagged by multiple analysts.
U.S. equities are buoyant on earnings strength and consumer resilience. In Malaysia, the KLCI inched up with construction and industrial sectors leading. MALAKOF emerged as a stock to watch with upside potential per analyst consensus.
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