KUALA LUMPUR – The FBM KLCI index had emerged as the best performing index among the ASEAN markets for the first half of the year (1H2020).
The local index had only declined 5.5% to 1,500.97 compared to the 19.6% decline in Singapore’s FTSE Straits Times and 15.2% Thailand’s Stock Exchange index over the same period in 2019.
The Chairman of Bursa Malaysia, Tan Sri Abdul Wahid Omar said, the FBM KLCI had also outperformed its regional peers during this Covid-19 period.
Delivering his welcoming address at Invest Malaysia 2020 today, Abdul Wahid said that the healthcare index recorded a stellar gain of 86.9% for 1H2020 as internationally renowned manufacturers of gloves continue to attract the attention of investors.
According to him, the healthcare sector had benefited during the Covid-19 and they are now ranked fifth amongst the top traded sectors in the stocks exchange.
Others sectors which benefited from the pandemic were technology, consumer products & services and energy, thus showing an indication that investors are adopting the forward-looking strategy.
“I am therefore confident that our well-developed financial market will continue to attract investments,” he said.
Abdul Wahid added, the Malaysian capital market has strong fundamentals which provided some resilience against the volatility in the global economy.
“According to the World Bank, while Malaysia, like many other economies, has been deeply affected by COVID-19, its diversified economic structure and sound track record of macroeconomic management are some of the factors that have contributed to our resilience. This makes Malaysia well-placed to recover from the crisis,” he said. -MalaysiaGazette