The Malaysian stock market closed at 1,858.26 points on Wednesday, up 0.54% from its previous close.
Despite anticipated uncertainties when the market re-opened on Monday after the nation’s 14th General Elections, encouraging signs emerged early and prevailed, with strong support from both local and foreign buyers which saw the market remaining stable throughout the first half of the week.
The traded value of RM7.3 billion on Monday was the highest ever in record, with daily market velocity at 96%. The market was seen to have normalised today, up by 10.06 points from the previous close.
In line with its function as the national stock exchange, Bursa Malaysia Berhad had ensured adequate and robust market management measures were securely in place to maintain a fair and orderly market in the event of excessive volatility.
“The fact that the market was resilient and remained well-supported over the last three days reflects Malaysia’s strong economic fundamentals and investor confidence. The additional two-day break allowed the market to make rational investment decisions that were underpinned by stronger corporate earnings growth and positive economic outlook,” said Chief Executive Officer of Bursa Malaysia, Datuk Seri Tajuddin Atan.
The imminent developments such as institutional and governance reforms will further enhance Malaysia’s competitiveness, in line with Bursa Malaysia’s continuous efforts in championing corporate governance among listed companies as key levers of sustainable growth. The Exchange will continue to step up initiatives to increase the depth, breadth and vibrancy of the Malaysian capital market.