Malaysia's top funds going for tech stocks amid market slump

📆 10/12/2019 10:09 p. m.
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Technology index jumped 26% this year as companies reap a windfall from the US-China trade war. FMTNews KLSE Bursa

The benchmark FTSE Bursa Malaysia KLCI Index is set for the steepest drop since 2008.

That’s even as the benchmark FTSE Bursa Malaysia KLCI Index slumped 7.6%, set for the steepest drop since 2008. In contrast, the smaller cap gauge has rallied 22%. Eastspring Investments expects the tech sector’s “bullish trend” to continue for many more years, said Tung Yin Wai, who helps manage the RM807 million Eastspring Investments Small Cap Fund.

Bank Negara Malaysia estimated an additional US$1.4 billion of goods was exported by Malaysia to the world’s two largest economies from January through August.

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