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.
Sector View: Bullish on upstream solar segments (polysilicon & PV glass) Key Takeaway: Structural supply reform and policy support to lift margins and reduce volatility The solar energy sector is showing early signs of a cyclical recovery— particularly in the upstream segments of polysilicon and solar glass —driven by policy tailwinds, supply-side discipline, and cost rationalisation . Polysilicon: ASP Recovery in Progress Recent developments in China hint at industry consolidation and proposed price floors for polysilicon. These measures are expected to stabilise the market after a prolonged period of oversupply and price erosion. Supply tightening and improved cost control are already triggering an uptick in average selling prices (ASPs). As polysilicon accounts for a significant portion of upstream solar costs, margins are likely to recover first at this stage of the value chain . Key Beneficiary: GCL Technology Holdings Ltd (3800-HK) ...