FBM KLCI would have fallen 11% year-to-Nov sans healthcare stocks

KUALA LUMPUR: The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) would have fallen by 11 per cent year-to-November 2020, without the support from the three healthcare counters, said Bursa Malaysia Bhd chairman Tan Sri Abdul Wahid Omar.

The three FBM KLCI healthcare counters are Hartalega Holdings Bhd, IHH Healthcare Bhd and Top Glove Corporation Bhd.

Abdul Wahid said, thanks to the healthcare stocks, the FBM KLCI only declined 1.6 per cent year-to-November 2020, and Bursa Malaysia became one of the best performing emerging markets (EM) in ASEAN, apart from the Hanoi Stock Exchange.

"The healthcare index had surged 220.9 per cent year-to November 2020...So if we were to remove the performance from healthcare, especially the glove counters, the number will be quite different, meaning that the FBM KLCI would have fallen 11 per cent year-to-November 2020,” he said.

Abdul Wahid said this at the PowerTalk Webinar themed "Moving Forward: Banking and Capital Market Trends” organised by the World Islamic Economic Forum (WIEF) and Securities Industry Development Corporation (SIDC) here, today. - Bernama