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.
Key Takeaways: PPI Eases: Malaysia’s Producer Price Index (PPI) for local production rose 0.3% year-on-year (YoY) in February 2025, down from 0.8% in January , signaling moderating cost pressures at the producer level. Agriculture Drives Growth: The agriculture, forestry and fishing sector continued to lead, up 15.2% YoY , driven by a 26.1% surge in perennial crops . Mining Sector Contracts Sharply: Mining output fell 9.7% YoY , deeper than January’s 1.3% drop, due to declines in crude petroleum (-9.8%) and natural gas (-9.4%) . Manufacturing Softens: Manufacturing PPI fell 0.3% YoY , a smaller drop than January’s 0.6%. Biggest declines: Coke & refined petroleum products (-12.7%) Computer, electronic & optical products (-3.2%) Utilities: Electricity & gas supply dipped 0.2% Water supply remained resilient with a 2.9% increase....