PETALING JAYA: Analysts argue that the recent lacklustre performance of the FBM KLCI and the broader market presents good buying opportunities, as the sharp appreciation of the ringgit during the third quarter of 2024 (3Q24) had slowed down most of corporate Malaysia’s profit growth to an extent.
In a note to clients yesterday, research house CGS International Research (CGSI Research) said the local currency had appreciated by 13% against the US dollar in 3Q24, from RM4.72 to a dollar at the end of June to RM4.13 three months later, following steady declines over the years.
