$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ It's been a nice...
$FTSE Bursa Malaysia KLCI Index(.KLSE.MY$ It's been a nice run up in 2024. As the indice approaches th 1600 mark, many are optimistic. On the back of remarkable local institutions absorbing foreign funds sell-down, good reason to have these positive views. Is Malaysia finally able to take the reigns of the KLSE from foreign fund drivers? Taking a step back from the proverbial cloud and looking birdseye view in longer term duration, likely to expect considerable resistance at the 1620 mark before waltzing up to 1700 and beyond.
Observe the march down commenced sometime Jan/Feb 2020, well before actual MCO imposed Mar'20. The sudden disruption and succeeding spike up saw the 1620 levels tested several months. This initial recovery went down about May'22. Notable is the foreign funds that were relectlessly selling down almost entire 2023. The local markets only got over this Jul'23 onwards, hence the recovery to-date.
Many economic headwinds locally and geopolitically, blackswan events to be anticipated as we march onward.
Many economic headwinds locally and geopolitically, blackswan events to be anticipated as we march onward.
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