Bursa Malaysia is expected to record an upward trend with the FBM KLCI main index expected to surpass the 1,780 point level by the end of this year.
Rakuten Trade Chief Researcher Kenny Yee said he also expects Bursa Malaysia to be the best stock market in Asean.
He also said that the local stock market will test that level based on 16.8 times price earnings ratio based on 16% revenue growth this year.
In addition, the return of funds by the government-linked investment company (GLIC) is expected to play an important role in increasing liquidity in the local stock market.
Based on current performance, the FBM KLCI index is ahead of other Asean stock market benchmarks when it recorded a 14% increase so far this year.
Among other factors that drive the positive surge in the local market is Malaysia's political stability which is an important element.
Throughout 2018 to 2022, the country has had four different Prime Ministers and that has an impact on the performance of FBM KLCI.
However, the relatively stable domestic political environment at the moment gives more focus to efforts to boost the economy which in turn has an impact on the local market.
