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.
Slowing inflation in Singapore has created some room for the Monetary Authority of Singapore (MAS) to ease monetary policy in January, but analysts believe the central bank may delay any action until later in 2025 to better assess the impact of US President-elect Donald Trump's policies . Key Highlights Inflation Outlook November core inflation is expected to hold steady at 2.1% , a three-year low , according to analysts in a Reuters poll. MAS has forecast core inflation at around 2% for Q4 2024 , with DBS Bank predicting it to average 1.8% in 2025 . Monetary Policy Approach Singapore uses the Singapore dollar nominal effective exchange rate (S$NEER) to manage policy, adjusting the slope, midpoint, or width of the currency band. While some analysts expect an easing at the January review, a MAS survey showed the number of economists anticipating a reduction in the S$NEER slope dropped from 50% to one-third . Analyst ...