Trade Performance and Fund Flow Week Ended 11 October
- Emerging markets closed mixed, with four out of the ten Asian stock exchanges observed ending lower, and the MSCI Emerging Markets (RM) Index ending 1.7% lower. Overall performance was dragged by the China markets, which were pared down by the cautious sentiment arising from escalating geopolitical tensions in the Middle East during its Golden Week Holidays. The Shanghai Composite Index and Shenzhen Composite Index declined 3.6% and 4.8%, respectively.
- Outside of China, most regional indices climbed following optimism over more rate cuts after the US reported a lower consumer price inflation of 2.4% in September, down from 2.5% in the prior month, edging closer to the Fed’s 2% goal.
- Overall market capitalisation rebounded from the previous week’s loss and increased by 0.6% week-on-week (WoW) to RM2,033.33 bil. Growth was driven by a broad-based market recovery with ten out of 13 sectors recorded gains.
- The FBMKLCI recouped losses to close marginally higher with a 0.2% growth and stayed above the psychological level of 1,630pts throughout the week. The improved performance was buoyed by analyst optimism that the upcoming Budget 2025 will set the tone for domestic trends next year where the government will likely maintain fiscal discipline and keep the fiscal deficit below 4% of GDP growth next year. The key focus this week is on Budget 2025, set to be tabled on 18 October.
Published Date
15 Oct 2024
Publisher
Bursa Digital Research
