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 robust post-pandemic economic growth and significant foreign investment by US tech giants, the Bursa Malaysia's benchmark index has climbed as much as 17 percent over the past year.
According to the Bursa operator, investors opened 289,000 new trading accounts during the first seven months of 2024, nearly double the amount compared to the whole of 2023. This indicates a rebounding interest in Malaysia's stock market following years of political turmoil.
Stephen Yong, a financial planner with Wealth Vantage Advisory, noted that Malaysia's stock market appears to be emerging from a 'lost decade,' suggesting there is significant room for growth as many companies had been undervalued for years. The outlook seems positive, especially with more investor funds flowing into Asia Pacific including Malaysia.
Over the past decade, Malaysia's stock market faced challenges such as political instability and a lack of economic competitiveness, resulting in what was described as a drag on the Bursa's performance. A rapid turnover of prime ministers and the 1MDB financial scandal contributed to battered investor confidence.
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