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.
The Johor state government is finalising a local transport network designed to complement the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) Link , said Johor Menteri Besar Datuk Onn Hafiz Ghazi during the Invest Malaysia conference on Thursday. This network will connect key landing points in Johor Bahru to various developments within the Johor-Singapore Special Economic Zone . In addition to the RTS Link, the state is moving forward with several major infrastructure projects, including expansions to the Senai-Desaru Expressway and North-South Expressway , to support Johor's growing economy. Johor's economy grew 4.1% in 2023, outpacing the national average of 3.6% , according to Onn Hafiz. The RTS Link , expected to be operational by 2026 , is set to enhance cross-border connectivity between Johor and Singapore, reducing travel time and promoting economic integration. Onn Hafiz also mentioned progress on soft connectivity measures, such as a passport-free QR c...