FBM KLCI to expand to 50 stocks as Malaysia cuts reliance on banking overweights
This raises main market coverage to 70% while boosting growth sectors such as tech, energy and Reits
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[KUALA LUMPUR] Malaysia is broadening its benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) for the first time in 17 years, adding technology, energy and real estate investment trusts (Reits) into the index.
This is to diversify its stock benchmark beyond traditional heavyweights such as banks.
The FBM KLCI will expand to 50 stocks from 30 under changes announced by Bursa Malaysia and FTSE Russell on Thursday (Aug 20), following a public consultation earlier this year.
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