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.
In a bold move to shield its domestic manufacturing base , the Malaysian government has imposed provisional anti-dumping duties of up to 57.9% on imports of galvanised steel coils and sheets from China, South Korea, and Vietnam . The tariffs will be effective for 120 days , starting July 7, pending a final decision expected by November 3, 2025 . This development comes after CSC Steel Sdn Bhd filed a petition alleging that these imported products were being sold below their home market prices , inflicting injury on Malaysia’s steel sector. Strategic Implications for Investors The measure, introduced by the Ministry of Investment, Trade and Industry (MITI) , is part of Malaysia’s ongoing effort to strengthen domestic industrial resilience in the face of global oversupply and unfair trade practices. This is a positive signal for local steel producers , particularly those operating in ...