Stronger GDP, ringgit, foreign investments expected to lift FBM KLCI

Sectors that are expected to benefit most next year are banking, plantation, property, as well as technology, Inter-Pacific Asset Management's Nazri Khan said. — Bloomberg

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 FBM KLCI to the 1,700 level next year.

Inter-Pacific Asset Management Sdn Bhd 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.