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.
Manufactured Products Price Index (MPPI) YoY: +1.6% in July (vs -0.1% in June) Oil index: -13.2% Non-oil index: +4.4%, supported by machinery & transport equipment MoM: -0.9% (vs -0.8% in June) Oil index: +1.5% Non-oil index: -1.3% Takeaway: While oil-related prices fell sharply, non-oil manufacturing (machinery, transport equipment) provided resilience, driving overall annual growth. Domestic Supply Price Index (DSPI) YoY: -2.4% in July (vs -3.7% in June) Oil index: -17.0% Non-oil index: +3.5%, lifted by machinery & transport equipment MoM: -0.5% (vs +0.3% in June) Oil index: +1.4% Non-oil index: -1.1% Takeaway: Oil price volatility continues to drag the DSPI lower, while non-oil supply prices remain firm. Market Context The FTSE Straits Times Index (STI) gained 0.45% on Friday, suggesting that investors largely shrugged off the weakness in oil-related indices, focusing instead on Singapore’s...