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.
Japan’s ruling coalition failed to gain the support of a key opposition party, threatening Prime Minister Shigeru Ishiba’s ability to pass the 2025 state budget and tax reform bills through parliament. Key Highlights 1. Income Tax Threshold Dispute Proposed Threshold : The ruling Liberal Democratic Party (LDP) and coalition partner Komeito suggested raising the tax-free income threshold from ¥1.03 million to ¥1.23 million , the first adjustment since 1995. Opposition’s Demand : The Democratic Party for the People (DPP) is pushing for a much higher threshold of ¥1.78 million to better address rising living costs. DPP’s Stance : "With the planned ¥1.23 million threshold, there is no way for us to support the state budget," said DPP lawmaker Yuichiro Tamaki . 2. Revenue Implications Proposed Hike Impact : LDP's plan: Reduce tax revenue by ¥700 billion . DPP’s demand: Estimated revenue reduction of...