KUALA LUMPUR, Jan 16 – Bursa Malaysia Bhd expects the capital market to continue performing well in 2024 compared to last year based on the encouraging numbers recorded for the first half of January, said chairman Tan Sri Abdul Wahid Omar.
He said the exchange saw foreign investments totalling RM448 million for the first 15 days of the year that helped push the FTSE Bursa Malaysia KLCI (FBM KLCI) to close above 1,500 points on Monday.
“We also saw average daily trading value (ADTV) increasing to RM3.25 billion, 50 per cent higher than the RM2.06 billion ADTV recorded for the whole of 2023,” he told the media after Bursa Malaysia’s launch as a multi-asset exchange onTuesday.
Abdul Wahid noted that Bursa Malaysia still commands the attention of foreign institutional investors, accounting for 29.2 per cent of the bourse’s securities market trading participation in 2023 in terms of ADTV, compared to 26.8 per cent in 2022.
He said the FBM KLCI is currently valued at a forward price-to-earnings ratio of 13.3 times (x), significantly lower than its 10-year average of about 15.5x.
“We are hopeful that the market will continue to do well in 2024 and we expect to see more investor interest going forward,” he said.
Meanwhile, Bursa Malaysia also launched Shariah-compliant gold trading platform Bursa Gold Dinar (BGD), customer portal MyBURSA, platform Bursa Reach and the exchange’s new logo.
Abdul Wahid said the BGD is designed to democratise gold investment by enabling a broader spectrum of investors to buy, sell, trade, and redeem gold at lower fees.
“The BGD is more than just another investment product; it offers stability as an alternative investment asset class in times of financial uncertainties and economic fluctuations,” he added.
As for MyBURSA customer portal and Bursa Reach, they are new platforms to equip and empower investors.
“MyBURSA is a web portal designed with our customers in mind. It offers access to research reports and other curated content, alongside investment tools to facilitate informed decision-making.
“Meanwhile, Bursa Reach is a platform to connect individual investors directly with dealer representatives covering both commissioned remisiers and salaried dealers,” said Abdul Wahid.
Finance Minister II Datuk Seri Amir Hamzah Azizan officiated the launch. Securities Commission Malaysia executive chairman Datuk Seri Dr Awang Adek Hussin and Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift were also at the event.
