Malaysia stocks regain mojo in 2024, driven by property, tech and Sarawak-focused sectors
The FBM KLCI has shown resilience this year, driven by economic recovery signals and optimism around China’s growth, US stability (barring adverse election outcomes), and a tech sector rebound
Add BT as a preferred source
[KUALA LUMPUR] Bursa Malaysia’s property, tech, and Sarawak-focused stocks are surging past the broader market this year. They are powered by government initiatives, booming data centre projects, and a surge in foreign investments.
Analysts also credit the rally to heightened trading activity, fuelled by key growth regions such as the Johor-Singapore Special Economic Zone (JS-SEZ) and Sarawak, which are boosting investor sentiment and driving sustained sector performance.
The technology sector initially led market gains but has recently lost momentum. Despite a mid-year surge, tech stocks have seen a net decline, with the Bursa Malaysia Technology Index peaking at 80.63 points in June before dropping to 58.62 points on Oct 30, a 7 per cent dip from January levels.
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
Rare brutalist Singapore house opens to the public before changing hands
