By Ivy Chok After years of getting shunned, Malaysia’s stock market is regaining favor with global investors. International funds turned net buyers of the equities this year as Prime Minister Anwar Ibrahim drove policies to boost foreign investments in the semiconductor industry and artificial intelligence data centers.
International funds turned net buyers of the equities this year as Prime Minister Anwar Ibrahim drove policies to boost foreign investments in the semiconductor industry and artificial intelligence data centers. Foreigners had sold about $11.5 billion of their holdings on a net basis in the previous six years, according to data compiled by Bloomberg.
Foreigners bought $172.5 million of Malaysian equities so far this year, while selling their holdings in Indonesia, Thailand and the Philippines on a net basis. Construction firm Sunway Bhd. and utility provider YTL Power International Bhd are the top gainers, as investors laid bets on the major beneficiaries of the tech and data-center boom.
At the same time, the nation’s institutional funds have deployed more money into the market after the finance ministry and the central bank called on them to increase domestic investments, to shore up the ringgit when it fell to a 26-year low in February this year. The ringgit has recovered 2.6% since.
These positive factors have prompted analysts to lift their targets for the FTSE Bursa Malaysia KLCI gauge and revised earnings estimates. JPMorgan Chase and Co.’s analysts this month upgraded the market to neutral from underweight.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ivy Lacsina embraces Akari after sister team swapMANILA, Philippines — After playing for one conference with the Nxled Chameleons, Ivy Lacsina is off to bring her high-caliber performance to sister team Akari Chargers in the upcoming Premier Volleyball League (PVL) 2024 Reinforced Conference.
Read more »
What’s your ‘poison ivy,’ something that can infect you if you don’t run from it?What’s your ‘poison ivy,’ something that can infect you if you don’t run from it?
Read more »
Lacsina-Nisperos reunion sa AkariMatapos maglaro sa Nxled ay isusuot ni Ivy Lacsina ang uniporme ng Akari para sa 2024 Premier Volleyball League Reinforced Conference na magsisimula bukas sa Philsports Arena sa Pasig City.
Read more »
![[ANALYSIS] The West Philippine Sea dispute and the stock market’s performance](https://i.headtopics.com/images/2024/6/29/rapplerdotcom/analysis-the-west-philippine-sea-dispute-and-the-s-analysis-the-west-philippine-sea-dispute-and-the-s-7750BE1A186A4226A67AD4A603504F37.webp?w=640)
[ANALYSIS] The West Philippine Sea dispute and the stock market’s performanceLooking at this week’s unfolding trading results, however, it looks like the unfortunate incident in the Ayungin Shoal did not leave any permanent negative impact
Read more »
Peso drops to P58.86:$1; stock market up anewTHE peso fell to its lowest in just over 20 months on Wednesday, but the stock market rose for a third straight day ahead of today's Bangko Sentral ng Pilipinas policy meeting.
Read more »
Milan Stock Exchange staff walk out in historic strikeLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »