On Monday, the FBM KLCI closed at 1,501.11 points, the second time since Aug 30, 2022 to settle above the psychological support barrier of 1,500. At the same time, chief executive of Areca Capital Danny Wong believes the dip in the FBM KLCI is a short-term reaction to Chinese economic data which would naturally have affected investor sentiment. “The FBM KLCI’s decent valuations coupled with subsided political risks in Malaysia further enhance market confidence that the government would focus on growth. Meanwhile, some 6.1 billion shares were traded on the FBM KLCI yesterday, with losers by far outstripping gainers by 748 to 234, as 504 counters remain unchanged. “After all, foreign investors are almost out of the market and local institutions have stopped selling at the end of 2023.

Source: The Star January 19, 2024 15:02 UTC