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.
Kenanga IB Predicts Higher Development Expenditure in Budget 2025 to Boost Infrastructure and Economic Growth
Kenanga Investment Bank Bhd (Kenanga IB) anticipates the Malaysian government to increase its development expenditure (DE) to RM94.5 billion in Budget 2025 , up from RM88.5 billion in 2024. This rise is expected to enhance infrastructure projects such as the revival of the Mass Rapid Transit 3 (MRT3) and the Kuala Lumpur-Singapore High-Speed Rail (KL-SG HSR) . Kenanga IB highlighted that in addition to transport, other key DE spending will likely focus on agriculture, education, healthcare, affordable housing, and national security , amid increasing regional tensions. On the operating expenditure (OE) front, Kenanga IB projects a rise to RM306.5 billion , despite the expected removal of the RON95 blanket fuel subsidy in the second half of 2025. Savings from this move could be redirected towards targeted assistance, civil servant salary increases, and progressive wage policies . The government's revenue is expected to rebound by 4.3% to RM316.5 billion in 2025, driven by reven...