Stronger GDP, ringgit and foreign investments to lift FBM KLCI to 1,700 next year - IPAM

Consensus estimates are for the FBM KLCI to rise to 1,600 points by the end of 2024.

KUALA LUMPUR: The prospect of a stronger gross domestic product (GDP) growth, together with a firmer ringgit and more foreign investments coming into Malaysia, will likely push the FTSE Bursa Malaysia KLCI (FBM KLCI) to the 1,700 level next year.

Inter-Pacific Asset Management Sdn Bhd (IPAM) chief economist and fund manager Datuk Dr Nazri Khan said given the reduction in market volatility, corporate earnings growth is also expected to improve as investors' confidence and sentiment have strengthened in the second half of 2023.