The FBM KLCI opened almost flat on Friday but weakened as the session progress after Malaysian authorities reported 277 COVID-19 cases at a migrant detention center Thursday, its biggest daily increase so far, raising concerns that the government is failing to protect foreign workers. Also, investors await US nonfarm payroll data for May, which will be released later in the day. Most major sectors in the index fell around 30 minutes of the trade, led by industrials, financials, basic materials, and consumer discretionary. The energy sector also moved lower as oil prices fell in early trading in Asia.
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 June of 2020.
The Malaysia Stock Market (FBM KLCI) is expected to trade at 1541.77 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 1481.46 in 12 months time.