The Malaysian stock market, which Bloomberg had described as 'the world’s worst major stock market' earlier this year, is on the rise again having drawn some US$84 million from foreign investors last week. — Picture by Hari Anggara
This is despite criticism from Opposition parties, including former prime minister Datuk Seri Najib Razak who was also the previous finance minister, that the new PH government’s policies and domestic politics scared off foreign investors. Business analyst Areca Capital Sdn Bhd called for buys on Malaysian company shares, saying earnings will not be dropping from here on.
Surprise earnings and hopes of more interest rate cuts at government-linked companies like Telekom Malaysia Bhd and Tenaga Nasional Bhd have also aided investor sentiment, according to Bloomberg.