Small caps power ahead

Rallying: A man monitoring stock movements at a private trading firm in Kuala Lumpur. Improving earnings prospects and rising participation from retail investors in the equity market are the main drivers of the uptrend in the FBM Small Cap Index. ─ AFP

DRIVEN by retail investors, small-capitalisation (cap) stocks in Malaysia have continued their run-up from last year into the first few months of 2021. The segment, comprising stocks with less than RM2bil in market value, has also outperformed its big-cap counterpart on the local bourse.

As of Thursday, the FBM Small Cap Index had risen about 10% year-to-date (ytd), while the main FBM KLCI Index, which is made up of the 30 companies with the biggest market cap, had lost 1.2%.

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