ISKANDAR PUTERI: Bursa Malaysia's market outlook remains robust, supported by sustained interest from both domestic and foreign investors, said its chairman Tan Sri Abdul Wahid Omar.
He said the FTSE Bursa Malaysia KLCI had gained 15 per cent year-to-date (YTD) as of Wednesday's close, positioning Bursa Malaysia as the best-performing market in ASEAN.
This performance brought the exchange's overall market capitalisation to RM2.05 trillion.
"The market has been very active, with the YTD average daily trading value (ADV) increasing by 64 per cent to RM3.37 billion from RM2.06 billion in 2023.
"Foreign investors contributed 35 per cent to the trading value, with a net inflow of RM3.99 billion," he said in his welcoming address at Invest Malaysia 2024, here today.
Abdul Wahid attributed the strong performance to key factors, including a favourable macroeconomic environment in Malaysia, continued strong trade, and robust government support.
For the first half of 2024, Bursa Malaysia led ASEAN in initial public offerings (IPOs), raising US$450 million (US$1 = RM4.13), representing a 33 per cent market share of the region's IPO market.
"In fact, we have recorded 35 listings to date, with RM6.1 billion in total funds raised and a total IPO market capitalisation of RM25.7 billion.
"There are several more listings anticipated in the remaining quarter of 2024, and we are optimistic about meeting our target of 42 IPOs this year, a level not achieved since 2006 with 40 listings," he added.
Invest Malaysia 2024 @ Iskandar Puteri, organised by Bursa Malaysia and co-hosted with Maybank, CIMB Securities and HSBC Malaysia, is a flagship event, with themed "Where Policy Meets Progress."
The one-day conference showcased Iskandar as the premier southern gateway to the country, with a focus on major developments, including the Johor-Singapore Special Economic Zone and other incentives for investors.