Malaysia’s stock market, once dubbed ‘world’s worst’, is making a comeback
Al Jazeera
Malaysian stocks are having a moment in the sun amid robust economic growth and influx in investment by US tech giants.
Kuala Lumpur, Malaysia – Malaysia’s stock market is experiencing a steady revival as billions of dollars pour into an exchange once written off as one of the region’s worst performers.
Buoyed by Malaysia’s robust post-pandemic economic growth and a surge in foreign investment by US tech giants, the Bursa Malaysia’s benchmark index has climbed as much as 17 percent over the past year.
Investors opened 289,000 new trading accounts during the first seven months of 2024, according to the Bursa operator, nearly double as many as those opened during the whole of 2023.
“The market appears to be emerging from a ‘lost decade,’ where it was previously undervalued with little upward movement,” Stephen Yong, a licensed financial planner with Wealth Vantage Advisory, told Al Jazeera.
Yong, a longtime investor in the local stock market, said there was “significant room” for growth and that many companies had been undervalued for a decade.
