THE FBM KLCI closed above 1,600 points this week for the first time in five months since March 23, 2021.
It has been six consecutive days that our index continued to scale impressively. The index was single-handedly lifted due to the foreign funds flowing back into Bursa Malaysia with limited support by local institutions and retail investors, who have been net sellers.
Interestingly, this coincided with the resolution of the political impasse in our country with the eventual appointment of Datuk Seri Ismail Sabri as the new Prime Minister, the third in three years.
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