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 UK government has confirmed a record allocation of £1.5 billion (US$1.9 billion or RM8.87 billion) to support new renewable power capacity in an upcoming auction, marking a significant step towards eliminating carbon emissions from its power grid. Key Allocations and Objectives The increased budget includes £1.1 billion specifically for offshore wind farms, as initially reported by Bloomberg News. This move follows a previous auction that failed to attract bidders due to the low guaranteed power price. “This will restore the UK as a global leader for green technologies and deliver the infrastructure we need to boost our energy independence, protect bill payers, and become a clean energy superpower,” stated Energy Secretary Ed Miliband. Strategic Importance The higher budget aims to kickstart projects that require several years to complete. The UK's newly elected administration has set an ambitious target to achieve a zero-carbon power grid by 2030. The previous government had...