KUALA LUMPUR (July 11): JPMorgan has upgraded its ratings for Malaysia’s equity market, recognising it as a standout performer within the Asean region, according to the firm’s recent note.
JPMorgan has consequently raised its KLCI target base case to 1,650, up from the previous 1,500, with a bull/bear scenario of 1,700/1500.
The firm noted that the Malaysian market has posted an about 9% return year-to-date (YTD), positioning it as the highest earner among Asean countries, where MSCI Asean is down 4% YTD.
This notable performance is supported by significant policy reforms, investments in data centres, and continuous infrastructure developments.
The firm highlighted that these tailwinds align with its 2024 outlook but are progressing at a much stronger pace than initially anticipated.
This unexpected acceleration, combined with increased deployment of domestic funds, has led to a “material re-rating of KLCI/MSCI Malaysia (MXMY)”.
Foreign investors’ positioning in Malaysia remains light, but JPMorgan believes there is “greater upside once it inflects upwards”.
While foreign investment lags, the firm remains “increasingly constructive on the Malaysia equities outlook”.
The upgrade is buoyed by strong tailwinds, with the firm raising its target for the KLCI index to 1,650, from 1,500 previously.
https://www.theedgemarkets.com/node/718582
Created by savemalaysia | Sep 09, 2024
Created by savemalaysia | Sep 09, 2024
Created by savemalaysia | Sep 09, 2024
Created by savemalaysia | Sep 09, 2024
Created by savemalaysia | Sep 09, 2024
Created by savemalaysia | Sep 09, 2024
Created by savemalaysia | Sep 09, 2024
Created by savemalaysia | Sep 09, 2024
icecool
now bursa bull run gogogo
https://theedgemalaysia.com/node/718692
1 month ago