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.
The Madani Government has demonstrated its commitment to addressing the cost-of-living challenges faced by Malaysians through an enhanced Sumbangan Tunai Rahmah (STR) initiative. With an allocation increase to RM13 billion in Budget 2025, up from RM10 billion previously, this marks the largest funding boost for STR to date. Supporting Households Amid Rising Costs Economist Prof Dr Barjoyai Bardai from Malaysia University of Science and Technology emphasized the importance of STR in easing financial burdens for households. While the aid may not cover the full cost of living for families—estimated at over RM3,000 monthly—it provides meaningful support to supplement household incomes. Sustainable Aid Mechanism Proposed Barjoyai suggested creating an endowment fund through a social security institution capable of generating annual income. This mechanism would ensure sustainable STR funding, reducing reliance on annual government budgets. Expan...