Upside to FBM KLCI with return of foreign funds

Rakuten's Yee targets the benchmark FBM KLCI to hit 1.630 points this year, implying a PE multiple of 15.5 times with money moving into the banking and telco stocks.

PETALING JAYA: Emerging markets (EMs) like Malaysia should attract foreign funds looking for growth and value as well as currency gains in 2023.

Rakuten Trade’s head of research Kenny Yee said foreign shareholding of local equities has fallen to 12.6% now because foreign investors have been focused on domestic markets since the Covid-19 pandemic’s outbreak three years ago.

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Bursa , EM , FBM KLCI , equities , foreignfunds , PE , forecasts


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