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.
The Energy Transition and Water Transformation Ministry has announced that electricity tariffs in Peninsular Malaysia will remain unchanged for the first half of 2025 under the Imbalance Cost Pass-Through (ICPT) mechanism. Key points: Electricity subsidies : The government will finance RM2.388 billion in subsidies to shield domestic consumers from tariff hikes. Fourth Regulatory Period : The average basic tariff for Tenaga Nasional Bhd will be maintained under the Incentive-Based Regulation framework from 2025 to 2027 . Future tariff changes : A new tariff schedule reflecting actual supply costs will be implemented from July 1, 2025 , involving a financial allocation of RM3.57 billion by the government. This approach ensures a balance in the energy trilemma of security, sustainability, and affordability, safeguarding domestic consumers while striving for competitive electricity pricing.