KUALA LUMPUR: CONSTRUCTION stocks were in focus on the local bourse yesterday, as investors returning from the Chinese New Year break bet on the sector’s bright prospects given major infrastructure projects in the pipeline. The Construction Index ended the day 0.7 per cent higher at 303.72, against the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) which rose 0.37 per cent to 1,691.24. Other mega projects in the pipeline include the East Coast Rail Link and the Kuala Lumpur-Singapore High-Speed Rail. “These will ensure continuing construction activity that will help offset the softer residential property construction that has shifted focus to the affordable or mass housing segment,” he said. This had led to a weaker US dollar as well as lower bond yields, which shifted investors’ focus towards emerging markets.

Source: New Strait Times February 07, 2017 05:39 UTC