The FTSE KLCI jumped 35 points or 0.8% to 1,582 in late deals on Wednesday, buoyed by reports that Kuala Lumpur has granted conditional approvals for the use of vaccines made by AstraZeneca and Sinovac, just days after rolling out its nationwide COVID-19 vaccination drive. Traders also cheered news that Malaysia on Tuesday recorded 1,555 fresh virus infections, the lowest in nearly two months, bringing the total tally to 304,135. In addition, approval of a third virus vaccine in the US, the progress of a $1.9 trillion virus relief package in Washington, and a continued fall in US bond yields all encouraged investors to buy equities. In business news, the Malaysian Rubber Council expects demand for medical gloves to normalize as the vaccine is set to be made widely available in the country by H2 this year. The reports sent Supermax and Top Glove Co, jumped 11.9% and 5.9%, each.
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 March of 2021.
The Malaysia Stock Market (FBM KLCI) is expected to trade at 1559.82 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 1498.80 in 12 months time.