PETALING JAYA: The local bourse was expected to see a post-budget rally yesterday in the absence of a pre-budget rally, which would normally be followed by profit-taking activities after the country’s budget announcement.
According to TA Research, this contrasted with the performance between 1997 (Budget 1998) and 2023 (Budget 2024) where the probability of the FBM KLCI advancing in the one-month and two-week periods before the budget was 53.6% and 64.3%, and the total average return was 0.6% and 1.1%, respectively.
