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.
The Federation of Malaysian Manufacturers (FMM) has forecasted “optimum growth” for Malaysia's manufacturing sector in the second half of 2024 (2H2024), fueled by favorable domestic policies and robust global demand. Key indicators such as business activity and production volumes suggest a positive outlook, according to FMM president Tan Sri Datuk Soh Thian Lai, who presented findings from the 25th edition of FMM’s Business Conditions Index survey. Key Takeaways: Positive Export Outlook : Malaysian manufacturers expect a continued rebound in exports during 2H2024, with the export index rising by 11 points to 100, while domestic sales are projected to increase modestly by three points to 95. The FMM has revised its forecast for Malaysia’s GDP growth to 5.1% (up from 4.1%), driven by strong export performance, higher private consumption demand, and increased investments. Improved Manufacturing Performance : The sector grew by 1.9% year-on-year in 1Q2024, accelerating to 4.7% in 2Q202...