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
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[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.
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