Trade Performance and Fund Flow Week Ended 28 June

Emerging markets ended on a negative tone as the MSCI Emerging Market (EM) Index reversed from its net gain position last week to close 0.1% lower while 6 out of 10 Asian Stock Exchange under observation declined.
China markets continued its downward trail for the second consecutive week as both the Shanghai Composite Index and Shenzhen Composite Index closed 1.0% and 2.2% lower. Investors remained concerned over the country’s staggering economic growth as China reported a 2.8% year-on-year drop in its fiscal revenue for the first five months of 2024 alongside slowing industrial profit growth for the same period.
Overall market capitalisation continued to retreat last week and closed 0.6% lower at RM2,027.87 bil. 11 out of 13 sectorial indices experienced moderation. Construction and Plantation inched higher by 0.9% and 0.3% week-on-week (WoW) respectively.
The FBMKLCI closed marginally lower from the previous week at 1,590.09pts. The weakened sentiment was in line with most regional peers as investors adopted a wait-and-see approach pending the release of U.S. personal consumption expenditure (PCE) data this week. Nevertheless, the FBMKLCI performed positively in the first half of 2024 with a year-to-date (YTD) growth of 9.3%.