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.
Zhizi’s IPO Plans & Market Position Zhizi Automobile Technology Co is considering a Hong Kong IPO to raise about $200 million (¥1.44 billion) . Discussions with advisers are ongoing , but no final decision has been made. China’s Growing EV Truck Market China leads the global EV market due to cost advantages, technological advancements, and battery material access . Electric truck sales in China more than doubled in 2024 , highlighting strong demand for commercial EVs. Zhizi manufactures electric trucks, tractors, and commercial vehicles , competing with Windrose Technology Inc., another EV truckmaker seeking a public listing. Zhizi’s Background & Industry Expansion Zhizi was founded in 2022 by DECH Future Automobile Technology Co. , a joint venture with Shaanxi Automobile Holding Group , one of China’s largest heavy-duty truckmakers. The IPO could help Zhizi expand production and compete in China’s rapidly growing commercial EV seg...