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.
Uzma Bhd surged to its highest level since mid-June after delivering record earnings for FY2025, prompting analysts to lift their outlook and upgrade the stock. Record-Breaking Earnings FY2025 net profit: RM53.54 million, an all-time high and ~16% above consensus . 4QFY2025 profit: RM19.88 million, up 27.7% YoY. Strong earnings momentum driven by both oil-and-gas services and diversification into renewable energy . Strategic Shift Beyond O&G Pivot into solar EPCC (engineering, procurement, construction & commissioning) is paying off. Recurring income from solar plant in Kuala Muda, Kedah adds earnings stability. Public Investment Bank noted Uzma’s execution track record boosts chances for future order book wins. Analyst Re-Rating Public Investment Bank : Upgraded to “outperform.” Phillip Capital : Calls share price correction “unwarranted,” highlighting multi-driver growth pipeline . Consensus now: Unanimous...