KUALA LUMPUR, July 31 (Bernama) -- Bursa Malaysia ended higher on Friday as investors continued to accumulate blue-chip stocks in line with stronger performances across most regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.50 points to 1,724.90 from yesterday’s close of 1,720.40. The benchmark index opened 0.83 of a point higher at 1,721.23, and moved between 1,715.67 and 1,730.12 throughout the day. The broader market was positive with gainers outpacing losers 707 to 402, while 547 counters were unchanged, 1,085 untraded and 56 suspended. Turnover expanded to 3.03 billion units valued at RM3.56 billion from 2.49 billion units valued at RM2.25 billion on Thursday.
Moody’s has downgraded Israel's credit rating for the second time this year, citing escalating costs from nearly 12 months of conflict with Hamas in Gaza and worsening hostilities with Hezbollah . The country's rating was cut by two notches to Baa1 , leaving it three levels above non-investment grade, with a negative outlook . Moody’s highlighted the significant geopolitical risks facing Israel, noting that the intensifying conflict with Hezbollah has raised concerns over long-term economic stability. Israel's projected war costs through the end of 2025 are estimated to reach $66 billion , more than 12% of the nation’s GDP . Despite the Israeli government’s criticism of the downgrade as “excessive and unjustified,” Moody’s expressed doubts about a rapid economic recovery , forecasting that the conflict would weaken Israel’s economy more severely than initially expected. The country’s fiscal deficit has surged, and growth forecasts have been revised downward, with 202...