The FTSE KLCI opened in the green on Friday following the positive lead from Wall Street overnight, amid optimism about a fresh US fiscal stimulus, with House Speaker Nancy Pelosi saying Thursday that negotiations were progressing. Investors also welcomed news that the jobless claims fell below 800,000 for the first time since the pandemic struck in mid-March. Meanwhile, the US regulator Thursday has approved Gilead's antiviral drug, remdesivir, marking the first medicine that win full Food and Drug Administration approval for treating COVID-19. In early trading, the financial sector mostly gained on news that the Malaysian government will continue its pandemic relief and stimulus initiatives, setting another expansionary budget to sustain the recovery process.
Historically, the Malaysia Stock Market (FBM KLCI) reached an all time high of 1896.23 in July of 2014. Malaysia Stock Market (FBM KLCI) - data, forecasts, historical chart - was last updated on October of 2020.
The Malaysia Stock Market (FBM KLCI) is expected to trade at 1472.64 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1415.04 in 12 months time.