Further upside expected for FBM KLCI

Wong: Utility counters’ out-performance may continue.

WHEN the FBM KLCI touched the 1,600-point psychological barrier in early May, there was scepticism on whether the benchmark index could sustain above these levels.

Thankfully, the index held up and even surged above the 2022 high of 1,620, hitting a new three-year high of 1,632.79 points on May 23, buoyed mainly by support from foreign institutional buying activities.