Foreign funds may return to Malaysian market by Q3
"This is certainly a good time to accumulate, especially the banking counters," says Rakuten Trade head of research Kenny Yee(pic).
PETALING JAYA: Foreign funds will possibly make their way back to Malaysia by the third quarter of this year to take advantage of the current reasonable valuation and cheap ringgit, says online equity broker Rakuten Trade.
Head of research Kenny Yee said once these funds flowed in, it would be for the longer haul, playing their role in strengthening the ringgit, which is expected to improve up to RM3.90 against the US dollar by the year-end.
Malaysia has been the worst performer in the equities market within the region but Rakuten is of the opinion that the reversal of this might be sooner than expected, on the back of the revival and kick-starting of mega projects by the “more business-minded” Malaysian government.
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