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.
Singaporeans continued to dominate the luxury property market in the third quarter, with locals accounting for 76% of all luxury home purchases , according to a new report from OrangeTee. Local Buyers Drive the Market Out of 171 luxury transactions in Q3: 130 were purchased by Singaporeans , up from 70.2% in Q2 , and 72.5% in Q3 2024 The rise reflects: Growing local affluence Strong interest in high-end real estate as long-term investments A focus on wealth preservation Luxury Sales Value in CCR Jumps Nearly 26% Properties in the Core Central Region (CCR) priced above $5 million saw a strong surge: Total sales value rose 25.7% to $1.73 billion in Q3 (up from $1.37 billion in Q2) Average price per unit increased to $10.09 million (from $9.73 million previously) Transactions Hit New Highs CCR luxury home sales (excluding bulk deals): 171 units sold in Q3 Up from...