The prospect of a stronger gross domestic product (GDP) growth, together with a firmer ringgit and more foreign investments coming into Malaysia, will likely push the FBM KLCI to the 1,700 level next year.
Come Monday, Dec 18, 2023, YTL Corp Bhd and YTL Power International Bhd (YTLP) will be auto-added into the widely followed FBM KLCI, a move that will kick out two other index constituents, that is, Dialog Group Bhd and Westports Holdings Bhd.
Despite the anticipated slowdown in the global economy next year, Malaysia’s gross domestic product (GDP) is expected to remain robust, with growth likely to at the higher end of the government’s official target range of 4% to 5% in 2024.
Bursa Malaysia has snapped three consecutive days of losses to end at its intraday high yesterday, as bargain hunting activities emerged following the recent sell-off.
Bursa Malaysia ended lower for the third consecutive day, tracking regional peers’ downbeat performance as market sentiments turned cautious ahead of the US Federal Reserve’s (Fed) monetary policy decision yesterday.