2023 Recap | YTL Power Take the Lead in the Malaysian Stock Market
The Utilities sector in the Malaysian stock market experienced a notable gain of 76.10% this year, which can be attributed to its earnings resilience supported by regulated assets for power and gas utilities.![]()
The Real Estate sector closely followed with an annual increase of over 20%, which can be attributed to the government's supportive policies, including incentive measures and loose monetary policy. These policies have driven real estate transactions, boosting confidence among buyers and investors alike.![]()
Check out the performance of the different sectors in the Malaysia stock market below:
This year, $YTLPOWR(6742.MY$ and $YTL(4677.MY$ have delivered remarkable results, with annual gains exceeding 200%, making it the best-performing company with a market capitalization exceeding MYR 5 billion. $MCEMENT(3794.MY$ closely follows them, with the 101.43 % gain YTD.
YTL Power purchased an 18.9% stake in $RANHILL(5272.MY$ on November 1, driving up the hydropower utility company's stock. Ranhill's stock price has risen by 56% after the announcement. The improvement in the company's profitability has also boosted YTL Corp, which derives more than half of its revenue from the power sector.![]()
Below are the best-performing Malaysian stocks in 2023:
Source: Bursa Malaysia, Bloomberg, moomoo
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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