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 Takeaways: Conference Overview: Purpose: Establishes China's economic agenda for the coming year. Focus Areas: Review of 2024's economic performance. Policy priorities for 2025. Expected themes: domestic demand, property market revitalization , and potential fiscal stimulus. Potential Market Impact: A bullish signal could emerge if the conference conveys a robust economic outlook or hints at significant fiscal and monetary policy support. Possible GDP growth targets for 2025 may hint at substantial deficit expansion , supporting market optimism. Historical Context of "Moderately Accommodative" Policy: Last used during the 2008 Global Financial Crisis , accompanying China's 4 trillion yuan fiscal stimulus . At the time, aggressive monetary easing resulted in the Hang Seng and FTSE A50 Index doubling within a year . Signals from Recent Politburo Meeting: Strongest stimulus signals in over a decade , including the reintroduction of...