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.
Thailand's household debt has seen a minor reduction in the second quarter as banks implemented stricter lending practices to manage bad loans and borrowers stepped up debt repayments amidst the highest interest rates in a decade. As of June, household debt, as a percentage of the country's Gross Domestic Product (GDP) , stood at 89.6% , down from 90.7% in the previous quarter. This equates to a total liability of 16.32 trillion baht ($507 billion) , slightly decreased from 16.36 trillion baht in the first quarter, according to data released by the Bank of Thailand . More than 75% of this household debt is attributed to loans for personal consumption and mortgages. Government Initiatives for Debt Restructuring Prime Minister Paetongtarn Shinawatra has committed to implementing a comprehensive debt restructuring plan to address the ongoing household indebtedness as her new administration introduces measures aimed at stimulating Thailand’s sluggish economy. The central bank ...