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.
KLCI Eases Ahead of GDP Data
The FBM KLCI slipped 0.35% to 1,581.05 as investors stayed cautious before Malaysia’s Q2 GDP release. Analysts expect growth to undershoot the 4.5% target, but downside risk to the index remains limited unless the miss is significant.
Wall Street Mixed on Hotter PPI
US stocks closed mixed after July Producer Price Index rose 3.3% YoY, the highest since February, tempering Fed rate cut hopes. September cut odds fell to 92.6% (from 100%) via CME FedWatch.
Stocks to Watch
RHBBANK (1066.MY)
Signed 20-year exclusive bancassurance partnerships with Tokio Marine Life Insurance & Takaful Malaysiaworth RM1.6B in access fees.
Extends existing 10-year deal expiring end-2024.
F&N (3689.MY)
3QFY25 net profit down 30% to RM84.82M, revenue fell 4.5% to RM1.25B.
Weaker consumer sentiment, reduced Thai tourist arrivals, and dairy farm start-up losses weighed on results.
WPRTS (5246.MY)
Q2 net profit +13.7% YoY to RM231.63M, revenue +25% to RM691.06M.
Declares 9.93 sen DPS. Guides for single-digit container volume growth in 2025.
INARI (0166.MY)
Partnered with China’s Sanan Optoelectronics to buy Lumileds Holding BV for US$239M.
Expands into global LED market; Inari to own 25.5% via a HK-based JV.
BIPORT (5032.MY)
Received RM44.22M in tax assessment notices for 2020-2023 from the Inland Revenue Board.
PESTEC (5219.MY)
Auditor flagged material uncertainty over going concern status based on FY2025 financials.
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