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.
Prime Minister Datuk Seri Anwar Ibrahim unveiled Malaysia’s ambition to become a top 30 economy and achieve high-income nation status by 2030 , emphasizing a shift toward a value-creation economy and innovation-led growth. Key Goals: Move from a consumer economy to a technology leader producing world-class “Made by Malaysia” products. Strengthen competitiveness through local tech development and digital transformation . Position Malaysia as a Southeast Asian leader in AI, digital tech, and renewable energy . AI as a National Priority: Anwar highlighted the National AI Action Plan 2030 as a cornerstone for talent development, research, and commercialization to drive broad AI adoption and establish Malaysia as an AI-driven nation. Strategic Focus: Invest in AI, data analytics, and government digital systems as critical assets. Foster a culture of innovation to accelerate Malaysia’s move toward a value-based econ...