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.
China's economy is showing mixed signals with strong industrial production but weak consumption amid a property slump, leading to the slowest quarterly growth in five quarters. However, President Xi Jinping's long-term strategy for technology-driven "high-quality growth" is beginning to pay off. Key Developments: Technology Advancements: Despite challenges, China's tech sector, including electric vehicles (EVs), solar panels, and semiconductors, is growing rapidly. This growth helps cushion the economy against the property market downturn. Economic Goals: China aims for a growth target of around 5%. Advances in high-tech sectors are helping maintain this pace, contrasting with the deep economic setbacks experienced by Japan and America during their housing market crises. Policy Focus: Third Plenum: Xi and top Communist Party officials are meeting in Beijing to chart long-term economic plans, emphasizing the importance of tech-driven growth. Consumer Confidence:...