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.
Key Highlights: Loan Purpose : The $15 billion conditional loan will fund climate resilience projects , upgrade electrical grids, and refurbish PG&E’s hydroelectric infrastructure and power lines. Additional Investments : The funds will also support battery energy storage expansion and enhanced transmission systems . Strategic Timing : The Biden administration is accelerating financing ahead of President-elect Donald Trump taking office on Jan 20, given uncertainties about future climate-related funding. Why It Matters Climate Resilience : PG&E’s infrastructure upgrades aim to tackle challenges posed by extreme weather events , including wildfires and hurricanes, which threaten California's power grid. Energy Transition : Enhancing storage and transmission aligns with the rising energy demands from industries like data centers, crucial for the clean energy shift. Utility Funding : The loan follows PG&E’s rece...