Trade Performance and Fund Flow week ended 26 July 2024
- Emerging market started the week in moderation following global sell-down of technology stocks, before rebounded towards end of the week following the release of US inflation data that prompted the possibility of rate cut in September. Overall market concluded the week with a broad-based decline. The MSCI Emerging Markets Index continued to decline by 1.6%.
- China markets ended the week in a negative note as both the Shanghai Composite Index and Shenzhen Composite Index closed 3.1% and 2.5% lower respectively. Despite the People’s Bank of China (PBOC) introduced several rate cuts in last week to spur the market, the lack of major policy support after the Third Plenum and the potential of new sanctions had exacerbated bearish sentiment.
- Overall market capitalisation retreated from its recent YTD high where it declined by 1.4% to RM2,062.45 bil last week. The moderation was driven by a broad-based market decline, with 10 out of 13 sectors contracted.
- The FBMKLCI snapped a three-week rally and closed 1.4% lower at 1,612.88pts at the end of the week. The weakened performance was in line with the regional peers as investors booked profit from recent gains.
Published Date
30 Jul 2024
Publisher
Bursa Digital Research
