{"id":7147,"date":"2020-12-03T12:22:47","date_gmt":"2020-12-03T04:22:47","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=7147"},"modified":"2020-12-03T12:22:51","modified_gmt":"2020-12-03T04:22:51","slug":"fbm-klci-likely-to-trade-at-1700-level-in-2021-midf-research","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=7147","title":{"rendered":"FBM KLCI likely to trade at 1,700 level in 2021 – MIDF Research"},"content":{"rendered":"\n

KUALA LUMPUR, Dec 3  — Expected economic recovery, availability of COVID-19 vaccine and resumption of corporate earnings growth are set to boost Bursa Malaysia’s FBM KLCI to the 1,700 level next year, said MIDF Research.<\/p>\n\n\n\n

In a statement today, it said recent developments point to a brighter outlook for the capital market in the near future. <\/p>\n\n\n\n

Factors such as ample liquidity,\u00a0no major untoward surprises over the true asset quality of the banking system, and positive\u00a0general election outcome (if called)\u00a0will improve investors’ sentiment domestically and regionally.<\/p>\n\n\n\n

The research house also expects commodity-based sectors to see an improvement.<\/p>\n\n\n\n

“Global commodity prices are expected to be better than this year\u2019s levels, and we forecast Brent crude oil price to average at US$51 per barrel and crude palm oil at RM2,700 a tonne,” it said, adding that the Malaysian economy is expected to grow by 7.0 per cent year-on-year in 2021.<\/p>\n\n\n\n

It noted that on Nov 30, the FBM KLCI closed at 1,562.71 points, recording a -1.6 per cent\u00a0loss for 2020 year-to-date.<\/p>\n\n\n\n

\"fbm<\/figure><\/div>\n\n\n\n

“However, this masked the fact that it was a very volatile year. At the height of the panic caused by the COVID-19 pandemic and other headwinds, FBM KLCI fell to its lowest on March 19 to 1,219.72; representing a 23.2 per cent decline from the beginning of the year,\u201d it said.<\/p>\n\n\n\n

It pointed out that when the trough of the FBM KLCI this year is compared to the close on Nov 30, it represented a 28.1 per cent increase.<\/p>\n\n\n\n

MIDF Research said the Malaysian stock market is also seeing a year-to-date outflow of RM24.02 billion.<\/p>\n\n\n\n

“But we believe this to be understandable, given the current global situation.<\/p>\n\n\n\n

\u201cIn terms of month, the foreign outflow peaked in March as the global investing community was spooked by the declaration of the COVID-19 as a pandemic by World Health Organization (WHO),” it said.<\/p>\n\n\n\n

However, the research house said the outflow has been on a downtrend since then, hence it expects foreign inflows in 2021, especially with the recent appreciation of the ringgit.<\/p>\n\n\n\n

— BERNAMA<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

KUALA LUMPUR, Dec 3  — Expected economic recovery, availability of COVID-19 vaccine and resumption of corporate…<\/p>\n","protected":false},"author":1,"featured_media":7148,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,524],"tags":[],"class_list":["post-7147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-nation"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/12\/7f29bfb071c91f1f4009594824ecbc915e3235c3dea57.png",1060,590,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/12\/7f29bfb071c91f1f4009594824ecbc915e3235c3dea57-150x150.png",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/12\/7f29bfb071c91f1f4009594824ecbc915e3235c3dea57-300x167.png",300,167,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/12\/7f29bfb071c91f1f4009594824ecbc915e3235c3dea57-768x427.png",640,356,true],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/12\/7f29bfb071c91f1f4009594824ecbc915e3235c3dea57-1024x570.png",640,356,true],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/12\/7f29bfb071c91f1f4009594824ecbc915e3235c3dea57.png",1060,590,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/12\/7f29bfb071c91f1f4009594824ecbc915e3235c3dea57.png",1060,590,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/12\/7f29bfb071c91f1f4009594824ecbc915e3235c3dea57.png",1060,590,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/12\/7f29bfb071c91f1f4009594824ecbc915e3235c3dea57.png",1024,570,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/12\/7f29bfb071c91f1f4009594824ecbc915e3235c3dea57.png",720,401,false]},"author_info":{"info":["Editor"]},"category_info":"Economy<\/a> Nation<\/a>","tag_info":"Nation","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/7147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7147"}],"version-history":[{"count":1,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/7147\/revisions"}],"predecessor-version":[{"id":7149,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/7147\/revisions\/7149"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/7148"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}