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.
HI Mobility (5335.MY) made a strong debut on Bursa Malaysia’s Main Market , opening at RM1.27 , hitting a high of RM1.33 , and closing at RM1.30 , marking a 6.56% gain from its IPO price of RM1.22 . IPO Performance & Demand Trading Volume: 98.4 million shares Closing Price: RM1.30 Oversubscription: Overall: 6.57x Public: 10.12x Bumiputera: 3.03x This indicates strong investor appetite , especially from the public segment, for HI Mobility's growth potential in the transportation and EV sectors. IPO Fund Allocation (RM115.9M Raised) 60.4%: Expand bus fleet (electric + ICE vehicles) 12.9%: Build EV charging infrastructure 4.4%: AI for vehicle monitoring & driver management 22.3%: Working capital & listing expenses Focus on sustainability and smart mobility positions the company well in the green transport movement. Market Cap & Advisory Estimated Market Cap: ...