The S&P having made such strong gains, some analysts are starting to get jittery and may now consider relooking the defensive markets. Thus Malaysia, with one of the highest dividend yields in the region at 3.03%, could be a beneficiary.
PETALING JAYA: Malaysia is the least favoured destination of foreign portfolio funds in Asia ex-Japan on a year-to-date basis, mainly due to expensive valuations and a defensive position at a time when most markets have been rallying.
With the S&P 500 closing at its record high of 1,848.36 last Friday, and having gained 6.2% on a year-to-date basis, such a buoyant investing outlook has fuelled portfolio funds to put their money in the higher beta markets.
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