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.
Small Medium Enterprise Development Bank Malaysia (SME Bank) has projected Malaysia's GDP growth to range between 4.5% and 5% in 2025, supported by the robust Madani Economy framework and a positive economic outlook. Key Highlights : 2024 Growth Performance : Malaysia’s GDP grew 5.1% in 2024, exceeding the bank’s forecast of 4.3% to 5.3% . The growth was driven by strong household spending , favourable labor market conditions , robust investment , and a recovery in external trade . 2025 Growth Outlook : SME Bank’s Acting CEO, Datuk Dr Mohammad Hardee Ibrahim , expects GDP growth for 2025 to remain strong, between 4.5% and 5% , continuing the positive momentum seen in 2024. Sectoral Growth : The construction sector is anticipated to lead in 2025 with double-digit growth, building on its strong performance since 2023. The manufacturing sector is a...