(right) Director and Portfolio Manager Asian Equities team blackrock Joshua Crabb and Co;head Institutional unit trust advisor (IUTA) AmInvest Penny Leong at media briefing at Menara AmBank.
PETALING JAYA: BlackRock Inc, the world’s largest asset manager based in New York, is reducing shares in Malaysian companies because it is betting that stocks in other regional markets will rise at a faster pace this year.
The FTSE Bursa Malaysia KL Composite Index (FBM KLCI) climbed 10% last year to outperform many of its regional peers, prompting foreign analysts, including those at Standard Chartered bank, to cut their rating on Malaysian equities to “neutral” from “overweight”.
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