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.
Malaysia’s economy expanded 4.4% YoY in 2Q 2025, matching 1Q’s pace, as robust domestic demand offset a slowdown in exports, according to the Department of Statistics. The figure was just shy of the 4.5% advance estimate . On a seasonally-adjusted basis, GDP growth accelerated to 2.1% QoQ from 0.7% in 1Q. BNM’s View Bank Negara Malaysia Governor Datuk Seri Abdul Rasheed Ghaffour said the economy faces tariff-related uncertainty “from a position of strength,” with the official 2025 growth forecast of 4.0%-4.8% deemed broad enough to capture current risks. Tariff Impact: The US recently imposed a 19% import tariff on Malaysian goods as part of wider trade actions, alongside a blanket 10% tariff since April. A threatened 100% tariff on imported semiconductors — which account for ~one-third of Malaysia’s US exports — remains a key risk. The additional 9% tariff is within B...