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%.
Published Date
02 Jul 2024
Publisher
Bursa Digital Research
