The FBM KLCI opened higher on Monday, as investors welcomed reports that profits at China's industrial firms grew by 19.1% yoy in August, the fourth straight month of gains, buoyed in part by a rebound in commodities prices and equipment manufacturing. Traders put their focuses on the first debate between US President Donald Trump and Joe Biden on Tuesday ahead of the November election. Investors also anticipated a new fiscal support in the US as well as UK-Europe post-Brexit trade talks as they continue this week. Market participants await for the release of August trade data later in the day. In early trading, the healthcare sector, financials, utilities were mainly higher. Meanwhile, shares in basic materials, consumer discretionary fell. A decline in oil prices in Asia also pushed lower energy stocks.
Historically, the Malaysia Stock Market (FBM KLCI) reached an all time high of 1896.23 in July of 2014. Malaysia Stock Market (FBM KLCI) - data, forecasts, historical chart - was last updated on September of 2020.
The Malaysia Stock Market (FBM KLCI) is expected to trade at 1489.40 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1431.14 in 12 months time.