Trade Performance and Fund Flow Week Ended 27 December
- Emerging market rebounded from its previous loss over the last week of 2024, with gains recorded in nine out of ten major Asian indices observed, while the MSCI Emerging Markets (EM) closed 1.0% higher. The Taiwan stock exchange registered the top gain last week, with the TWSE index closing 3.4% higher week-on-week (WoW), supported by growth in technology-related stocks. Foreign investors also returned to the Taiwanese market after two consecutive weeks of net selling, with a weekly net inflow of +USD2,172.72 mil.
- China’s stock markets ended on a mixed note last week, as the SHCOMP grew by 1.0% while the SZCOMP trended lower by 1.3%. The World Bank raised its forecast for China’s economic growth to 4.9% in 2024, attributing the increase to the country’s recent policy easing and export strength. However, GDP growth is forecast to moderate to 4.5% in 2025, as the country’s prospects are set to be weighed down by weakened consumer confidence alongside headwinds in the property sector. In the same week, China also reported a decline in its industrial profits for a fourth straight month by 7.3% year-on-year in November.
- The FBMKLCI closed in the green throughout the week, surpassing the psychological 1.600pts level. This improved sentiment was buoyed by buying support in blue-chip stocks and aligned with the positive performance of regional bourses.
- Overall market capitalisation rebounded from the previous week’s loss, climbing 1.9% week-on-week (WoW) to RM2,062.87 bil. Growth was driven by a broad-based market recovery with 12 out of 13 sectors recording gains. All of the FBM series indices advanced, with the FBM Hijrah Shariah leading the growth at 2.4% WoW.
Published Date
31 Dec 2024
Publisher
Bursa Digital Research
