KUALA LUMPUR: The Malaysian stock market remains resilient and stable, reflecting the country’s strong economic fundamentals and investor confidence, despite anticipated uncertainties from the election outcome, Bursa Malaysia said.
The exchange said the market saw encouraging signs over the three days when it reopened after the nation’s 14th General Elections with strong support from both local and foreign buyers.
The traded value of RM7.3 billion on Monday was the highest ever in record, with daily market velocity at 96 per cent, it added.
The market was seen to have normalised today, up by 10.06 points from the previous close.
FTSE Bursa Malaysia KLCI closed at 1,858.26 points on Wednesday, up 0.54 per cent from its previous close on Tuesday.
In line with its function as the national stock exchange, chief executive officer Datuk Seri Tajuddin Atan said Bursa Malaysia 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,” he said in a statement.
Tajuddin said 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,” he added.