Trade Performance and Fund Flow week ended 10 May 2024

Overall market capitalisation extended its upward trend where it reached a new YTD high of RM1,979.19 bil on 3 May 2024 after posting a +1.3% WoW gain. Growth is supported by a broadbased market gain where 10 out of 13 sectors closed higher week-on-week. ▪ The FBMKLCI inched up by +0.9% at 1,589.59pts, as market sentiment remained positive with foreign buying interest across the board. This came after renewed optimism over fed rate adjustment to as early as September.

Overall market capitalisation reached a historical high of RM2,003.69 billion (bil) on 8 May for the first time before closing lower at RM2,003.02 bil at the end of the week. This represented a +1.2% WoW growth, driven by broad-based expansion across 12 out of 13 sectors. 

The FBMKLCI achieved a YTD high on 7 May, surpassing the 1,600 marks before closing at 1,600.67 pts at the end of the week. This was attributed to sustained buying interest from foreign investors amid signs of a slowing US economy, reigniting hopes for an earlier interest rate cut. Investor confidence was further bolstered by the slew of positive FDI news notably the USD2.2 billion investment by Microsoft in cloud and AI development. Malaysia was also the only country in ASEAN-5 to record an inflow last week.