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.
TA Securities Holdings Bhd expects Budget 2025 to feature an allocation of RM403.7 billion , with RM305.7 billion allocated for operating expenditure and RM97.9 billion for development expenditure. This forecast suggests a reduction in the fiscal deficit to 3.7% of GDP in 2025, down from a projected 4.2% in 2024 , moving towards the government's 3.5% target by 2026 . The growth in government revenue, forecasted to rise 5.7% to RM325.3 billion , will be driven by increases in both direct and indirect taxes , as the economy expands at an expected rate of 5% in 2025. The services and manufacturing sectors , along with wage increases and private investments , are projected to support this growth. Key initiatives in Budget 2025 are expected to include measures supporting public infrastructure projects like the Mass Rapid Transit 3 (MRT3) and high-speed rail (HSR) , digital economy investments , and sustainable development related to energy transition . Additionally, sectors l...