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.
Key Takeaway: As ASEAN chair for 2025 , Malaysia commits to net-zero greenhouse gas emissions by 2050 and aims to position itself as a hub for green investment. Malaysia’s role at COP29 is pivotal in setting a strong climate agenda as it prepares to lead ASEAN next year . Malaysia has pledged to reach net-zero emissions by 2050 and is showcasing climate action milestones at its “Shift for Sustainability: Climate Action Now!” pavilion, demonstrating the country’s dedication to sustainability, inclusivity, and green innovation . With a 250-member delegation led by Natural Resources and Environment Sustainability Minister Nik Nazmi Nik Ahmad, Malaysia is focused on seven key areas: finance and economy, trade and industry, natural resources, energy, technology and innovation, sustainable development, and youth adaptation . These strategic clusters support ASEAN’s 2025 vision of inclusivity and sustainability and align with Malaysia’s green growth strategy, which has attracted RM10 b...