Trade Performance and Fund Flow Week Ended 13 September
- Emerging markets ended with a mixed performance as investors awaited the outcome from the upcoming Federal Open Market Committee (FOMC) meeting that is scheduled on 17-18 September. This meeting is expected to see the first interest rate cut since 2020 by the US Federal Reserve with indicators leaning towards a 25 to 50bp rate cut. Overall, the MSCI Emerging Markets (EM) rebounded to close 0.7% higher while five out of the ten Asian stock exchanges observed closed lower last week.
- China’s stock markets contracted further last week as both the Shanghai Composite Index and Shenzhen Composite index closed 2.2% and 1.9% lower respectively. Both benchmark indices almost declined to its lowest levels since early 2019 amid a slew of weaker-than-expected economic readings coupled with disappointing corporate earnings. Furthermore, comments from both U.S presidential candidates during the recent presidential debate also contributed to the bearish sentiment.
- Overall market capitalisation rebounded from the previous week’s loss and climbed by 1.0% week-on-week (WoW) to RM2,019.00 bil. Growth was recorded in six out of 13 sectors, with the Construction sector taking the lead. The listing of 99 Speed Mart Retail Holdings Berhad on 9 September added RM15.79 bil to total market capitalisation.
- The FBMKLCI declined marginally from the previous week to 1,652.15pts, primarily due to profit-taking activities in the Financial Services sector, which saw the Bursa Malaysia Financial Services index drop from its all-time high of 19,931.13pts. Investors’ focus will be on the upcoming FOMC meeting this week.
Published Date
18 Sep 2024
Publisher
Bursa Digital Research
