KLCI to hit 1560 by end-2023 as foreign funds eye emerging markets, as Wall Street risks rise.
Rakuten Trade research head Kenny Yee says foreign funds are taking advantage of low valuations and weak currencies within the region to diversify their portfolios.
“There is more risk than reward on Wall Street at the moment, and come November, if there’s another rate hike, Wall Street will see another sharp decline. He said this is happening because most of the funds flowing into Malaysia are long-term, and not the short-term “day trippers”. Yee added valuations within the Asean market is below their historical average, with the FBM KLCI hovering at 15 times price-earnings ratio which is below the five-year average of 17.3 times.
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