Resilient domestic economy helps sustain upward stock market momentum

Kuala Lumpur: Resilient domestic economy will help sustain the uptrend trading momentum of the local bourse, Bursa Malaysia Bhd chief executive officer Datuk Tajuddin Atan said. He said although the benchmark FTSE Bursa Malaysia KLCI recorded the weakest performance in Asean last year, down 5.7 per cent year-on-year, the average daily trading value for securities market on-market trades rose seven per cent to RM2.05 billion - thanks to higher trading participation from domestic institutional and retail investors.

"We believe the trend is sustainable. Given the strength of domestic resilient and the right policy initiative that has been put in place, we should be tracking the right direction," he told reporters after the company's financial year 2014 results briefing here Friday.

He said the local stock exchange operator has also initiated a retail outreach programme to engage, educate and grow the domestic retail participation, especially among young investors in line efforts to build a sustainable marketplace.

Among the key initiatives were the launch of BursaMarketplace, the first-of-its-kind online financial portal that provides access to accurate and objective market information.

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He said foreign investors, who became net sellers last year, were returning to the local market due to the attractive value proposition offered by the country's corporate sector.

"Generally, I think within this region, companies in Bursa Malaysia have continued to produce and perform quite well. That value proposition itself is an incentive for any inventors to come back to our market place," he added. – Bernama

Last year, total net outflow from foreign investors amounted to RM6.88 billion compared with RM2.57 billion net inflows in 2013.

On initial public offering (IPO), Tajuddin said the number of new listings this year is expected to be similar to that of last year where 14 companies debuted on Bursa Malaysia.

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He also hinted that several new listings were already in the pipeline.

During last year's IPO, RM5.9 billion was raised from the equity market, down from previous year's RM8.2 billion due to lower new listings compared with 18 in 2013. – Bernama

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