PM Anwar: Perak river can supply 1,500 million litres of water per day to northern part of state and Penang, meeting essential needsMalaysian stocks are set to continue their nearly 10 per cent rally, thanks to supportive government policies, according to Principal Asset Management Bhd. — Picture by Hari AnggaraKUALA LUMPUR, July 2 — Malaysian stocks are set to continue their nearly 10 per cent rally, thanks to supportive government policies, according to Principal Asset Management Bhd.
The KLCI Index may rise another 5 to 9 per cent in the next 12 months, Principal Asset Management Bhd portfolio manager Lee Chun Hong told Bloomberg in an interview published today.. “We are getting more confident on the policies that have been announced so far,” he was quoted as saying.Malaysia’s benchmark index is currently outperforming in South-east Asia after three years of negative returns as the country’s focus on semiconductors and AI-driven data centres has attracted companies like Google and Microsoft.AdvertisementInvestments in data centres are expected to boost the economy within six to 12 months.
He said political stability in Malaysia further enhances its attractiveness compared to regional peers. “We think that things will move positively for equity market. We just need to watch the execution of government policy,” Lee was quoted as saying.