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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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CATL’s €7.3B Hungary Plant to Start Production by Early 2026

Key Takeaway

Chinese battery giant CATL will begin production at its new Hungary plant within 4–5 months, earlier than its previous 2025-end target. With €7.3 billion invested, the facility is set to become CATL’s largest in Europe, supplying automakers like BMW, Stellantis, and Volkswagen.

Details of the Expansion

  • Location: Debrecen, Hungary

  • Investment: €7.3 billion (US$8.55B / RM36.08B)

  • Scale: Annual capacity of 100 GWh, with a planned 9,000-strong workforce

  • Timeline: Production expected to start late 2025 or early 2026

  • Comparison: The plant will dwarf CATL’s Thuringia facility in Germany

This project underscores CATL’s aggressive push to strengthen its footprint in Europe.

Market Context

  • CATL commands a 38% global EV battery market share in 2024, up from 36% in 2023 (SNE Research).

  • The company raised US$4.6 billion in its May Hong Kong IPO to help fund this project.

  • Despite sluggish EV demand in Europe, CATL’s European head Matt Shen insists the long-term trend toward electrification is intact.

Why It Matters for Investors

  • European Automakers: BMW, Stellantis, and VW will benefit from a stable local battery supply chain, reducing dependence on Asian imports.

  • CATL Growth Story: Reinforces its dominance as the world’s top EV battery maker, signaling potential revenue expansion.

  • EV Sector Outlook: While demand has short-term volatility, CATL is positioning for the inevitable long-term shift to EVs.

Watchlist

  • CATL (300750.SZ / 300750.HK) – Scaling up aggressively, remains the global leader.

  • BMW (BMW.DE), Stellantis (STLA), Volkswagen (VOW3.DE) – Direct beneficiaries of localized supply.

  • European EV Chain – Suppliers of raw materials (lithium, nickel, cobalt) may see rising demand.

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