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.
Malaysia’s 13th Malaysia Plan (13MP) sets an ambitious target of 4.5%-5.5% annual GDP growth between 2026 and 2030, with RM430 billion in development expenditure (devex) allocated to drive economic restructuring and improve living standards. Key Highlights: GDP Growth Target: 4.5%-5.5% annually (vs. 5.2% avg. in 2021–2024) Devex Allocation: RM430B (+3.6% vs. 12MP) = avg. RM86B/year Fiscal Deficit: <3% of GDP by 2030 (vs. 4.1% in 2024) Total Funding: RM611B (incl. RM120B from GLCs, RM61B PPP/private) Private Investment: +6% annually (avg. RM417.9B/year) Public Investment: +3.6% annually (avg. RM112.9B/year) Export Growth: +5.8% annually Inflation Target: 2%-3% p.a. Sectoral Allocations: Economic Sector: RM227B (infrastructure, transport, housing, flood mitigation) Social Sector: RM133B (education RM67B, healthcare RM40B) National Security: RM51B Public Administration: RM17B Social & Eco...