KUALA LUMPUR, June 1 — The FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to rebound and end on a higher note this year, amidst global volatility, business closures and the slowdown in corporate incomes due to the Covid-19 pandemic. In its equity report today, AmInvestment said the benchmark...
In its equity report today, AmInvestment said the benchmark counter is anticipated to reach 1,530 by year-end, backed by robust domestic liquidity from both institutional and retail investors that has effectively neutralised persistent selling by foreign investors. — Bernama pic
The research house believes that the robust domestic liquidity has been driven by the risk-on sentiment globally, triggered by the massive monetary and fiscal stimulus packages put in place by central banks and governments around the globe, among others. Meanwhile, the research house said that the local political situation does not seem to be weighing on the market risk premium as the dominant market players, i.e the local investors, are calmer compared to foreign investors.
However, several key sectors — most notably the healthcare sector — had been top gainers following the onset of the pandemic. This is larger than that of conglomerates like Keppel Corp Ltd, Jardine Cycle & Carriage Ltd and even insurance giant Great Eastern Holdings Ltd. Top Glove is also one of the component stocks of the MSCI Global Standard Index, FTSE Bursa Malaysia KLCI Index, FBM 100 Index, FBM Emas Index, FBM Hijrah Syariah Index, FBM Emas Syariah Index, FTSE4Good Bursa Malaysia Index and the Dow Jones Sustainability Index for Emerging Markets.
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