The FTSE KLCI was almost flat in late deals on Monday, ahead of the release of Malaysia's Q1 GDP figure on Tuesday. Markets have expected the economy to have contracted by 2% yoy in the quarter, shrinking for the 4th straight quarter, amid the prolonged impact of the COVID-19 pandemic. Traders assessed reports that there could be delays to the vaccination campaign in Malaysia as vaccines were slow to arrive. At its current pace, it would take another three years to provide at least one dose to 80% of the population, Coordinating Minister for Immunization said Saturday. In recent data, US nonfarm payrolls increased by only 266,000 jobs in April, missing market consensus of a rise of 978,000 jobs. Meanwhile, construction output in Malaysia declined by 10.5% yoy in Q1, the fifth straight quarter of fall. Petronas Dagangan went up 1.1%, while Top Glove dropped 1.3%.
Historically, the Malaysia Stock Market (FBM KLCI) reached an all time high of 1896.23 in July of 2014. Malaysia Stock Market (FBM KLCI) - data, forecasts, historical chart - was last updated on May of 2021.
The Malaysia Stock Market (FBM KLCI) is expected to trade at 1565.73 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1504.48 in 12 months time.