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Beyond weak Q4 earnings, analysts sanguine over Malaysia’s earnings growth in 2024

Better macro conditions, robust infrastructure development and resilient consumer spending could hold up FBM KLCI stocks

 Tan Ai Leng
Published Mon, Mar 18, 2024 · 04:47 PM
    • Market analysts are bullish on the continued uptrend of the FBM KLCI, as they anticipate that Malaysia’s economic condition will keep improving this year.
    • Market analysts are bullish on the continued uptrend of the FBM KLCI, as they anticipate that Malaysia’s economic condition will keep improving this year. PHOTO: BT FILE

    [KUALA LUMPUR] THE earnings momentum of the heavyweights on the Malaysian bourse’s key index may have eased up by over 11 per cent in the final quarter of last year from the same period in 2022, but analysts are not harping on that.

    Given improving macro conditions, coupled with the country’s robust infrastructure development and resilient consumer spend, analysts are sanguine over banking, consumer services and tech-related stocks this year, not least because the key players put up a good showing in the fourth quarter of 2023.

    Domestic-driven sectors are already delivering healthy double-digit growth, said CGS International research head and strategist Chehan Perera.

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