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.
RHB Investment Bank is staying bullish on Malaysia’s tech sector , maintaining its OVERWEIGHT rating as recovery momentum builds and valuations remain attractive. The sector is now trading at below 20x forward P/E , well under its 5-year average—opening the door for a potential re-rating . Why RHB Is Optimistic: Earnings Strength : Across the supply chain, companies are showing stronger revenue and giving positive forward guidance . Engineering Support Services report robust order books , often a leading signal for automated test equipment (ATE) and OSAT providers . EMS players (Electronics Manufacturing Services) see healthy visibility , backed by new project wins and customer interest. New tech rollouts, product launches, and demand recovery are expected to boost the sector through 2H25. Malaysia’s Strategic Advantage: Short-term boost from order diversion and long-term gain from manufactur...