KUALA LUMPUR -- Analysts say the outlook for Malaysia's stock market, which slumped 7% in the first half, remains cloudy, as central bank tightening, a weakening currency and other concerns sap investor appetite for shares.
The FBM KLCI, Malaysia's benchmark stock index, closed down 0.19% at 1,389.90 on Wednesday. It has traded below the 1,400-level since June, after nearly hitting 1,500 in January. Combined reported earnings of Bursa Malaysia's 30 largest companies fell about 35% in the first quarter this year compared with the final three months of 2022. The stock market saw foreign outflows of 4.19 billion ringgit ($903 million) in the first half of 2023 amid lack of growth catalysts and a weakening trade sector.
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