HSBC: Small upside bias for FBMKLCI

Bursa Malaysia, meanwhile, tracked the global sell-off as sentiment for equities soured, with losses on index-linked counters pushing the market barometer FBM KLCI to close lower by 17.51 points, or 1.05% at 1649.15. On the bright side, the latest LI figures indicate that Malaysia

KUALA LUMPUR: The FBM KLCI may only see limited gains although the bias remains on the upside for the benchmark index, says HSBC Private Banking’s chief market strategist for South-East Asia James Cheo.

“We are still cautious on Malaysian listed companies mainly because of their expensive valuations versus the other cheaper regional peers.