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’s grocery retail sector continues to display resilience, with RHB keeping its “Overweight” rating on retail staples, citing steady earnings, defensive positioning, and reliable dividend payouts. Sector Outlook Resilient earnings underpinned by defensive demand. Supermarket sales averaged 127 index points (Jan–Jun 2025) , above the 2024 average of 124. Growth supported by stronger consumer demand and new public housing developments. Estates like Kranji could open long-term expansion opportunities, particularly for Sheng Siong, given its track record of aligning with HDB launches. Top Picks Sheng Siong (SGX: OV8) Earnings CAGR: Projected at 10% through FY2027 . 1H25 performance: Stronger revenue and improved margins prompted RHB to raise forecasts. Store expansion: New outlets now average 8,500 sq ft , larger than the earlier 6,000 sq ft estimate — boosting leverage and margin potential. Valuation: Trading a...