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 announced a massive RM611 billion allocation for the 13th Malaysia Plan (RMK13) covering 2026–2030, with RM430 billion set aside for development expenditure to drive sustainable growth. Key Highlights: RMK13 aims to position Malaysia as a high-income, globally competitive nation . The plan will emphasize artificial intelligence (AI) and promoting ‘Made in Malaysia’ products to boost economic competitiveness. The five-year theme, Melakar Semula Pembangunan (Redesigning Development), focuses on value creation across all sectors . Strategic Goals: Build on the Ekonomi MADANI framework to raise growth potential and improve living standards. Pivot away from reliance on primary production toward innovation and value-added industries . Tackle poverty and inequality to ensure growth benefits all Malaysians. Economic Outlook: GDP growth is projected at...