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.
Singapore’s economy is showing resilience, prompting the Ministry of Trade and Industry (MTI) to raise its 2025 GDP growth forecast to 1.5%-2.5% (previously 0.0%-2.0%), but officials caution that global uncertainties could cloud the outlook. Key Q2 2025 Economic Data GDP Growth (YoY): 4.4% (Revised up from 4.3%; Q1 growth: 4.1%) H1 2025 GDP Growth: 4.3% Manufacturing: +5.2% (Q1: +4.7%) Quarter-over-Quarter (SA): +1.4% (Q1: -0.5%) Why the Upgrade? Stronger-than-expected performance in manufacturing and services sectors. Resilience in trade despite global tariff changes. Rebound from Q1 contraction avoided the risk of a technical recession . Cautions from MTI Global Slowdown Risk: Growth in major trading partners expected to moderate in H2 2025 as front-loading of exports eases. Tariff Impact: U.S. reciprocal tariffs could weigh on exports. Sector Risk: Pharmaceuticals, a key export sec...