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.
Singapore has fired another round in its ongoing war against property speculation. With the government extending the Seller’s Stamp Duty (SSD) holding period to four years and raising the top rate to 16% , the property landscape is shifting once again—and with it, the outlook for several SGX-listed stocks. While these measures aim to ensure a more sustainable housing market, investors must reassess their exposure to real estate-related counters in the short to medium term. Potentially Impacted Stocks 1. Real Estate Developers These stocks are likely to see immediate sentiment-driven pullbacks due to anticipated demand softening, especially from short-term investors and speculators. City Developments Limited (C09) UOL Group Limited (U14) GuocoLand (F17) Oxley Holdings (5UX) – already sensitive to policy risk due to higher leverage and reliance on local buyers Expect slower take-up rates for new launches and margin pressure...