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Malaysia’s stock market capitalisation hits record high of RM2 trillion

Analysts say the rally has been driven primarily by the return of foreign funds

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Tan Ai Leng

Tan Ai Leng

Published Wed, May 8, 2024 · 07:06 PM
    • The FBM KLCI has climbed more than 10 per cent in the year-to-date period, making it the top-performing index in the Asean region so far this year.
    • The FBM KLCI has climbed more than 10 per cent in the year-to-date period, making it the top-performing index in the Asean region so far this year. PHOTO: BT FILE

    [KUALA LUMPUR] Malaysia’s stock market reached a milestone as it hit RM2 trillion (S$571.6 billion) in market capitalisation for the first time ever on Tuesday (May 7), driven by renewed interest from foreign funds on heavyweight counters.

    On the same day, the benchmark index FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) breached the psychological barrier of 1,600 points for the first time in two years.

    This upward momentum continued into Wednesday with a broad-based rally across the stock market. The FBM KLCI ended at 1,604.75, down 0.1 per cent, though it rose as much as 0.3 per cent to 1,610.25 earlier in the day – the highest since May 3, 2021.

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