Selangor Journal
Image for illustration purposes only. — Picture by PEXELS

Economy continues to strengthen along with Bursa Malaysia — Minister

KUALA LUMPUR, April 23 — The rise in the FTSE Bursa Malaysia KLCI (FBM KLCI) to its highest level this year at 1,567.57 points under the administration of the Unity Government led by Prime Minister Datuk Seri Anwar Ibrahim confirms the Malaysian economy will continue to strengthen.

Economy Minister Rafizi Ramli said the FBM KLCI reached 1,567.57 points today during its intraday high at around 11am before closing at 1,561.64 points.

Economy Minister Rafizi Ramli speaks to the press during the Bumiputera Economic Congress (KEB) 2024 at the Putrajaya International Convention Centre in Putrajaya, on February 29, 2024. — Picture by BERNAMA

Even though negative sentiments continued to be portrayed by the Opposition, who seemed to be trying to bring down the country’s economy in its bid to grab power, that sentiment was not shown in the stock market.

“Bursa Malaysia has shown consistent improvement over the past 12 months, reaching its highest level of 1,567.57 points this morning.

“This continuous and consistent rise is equivalent to a 14.45 per cent increase in annual returns to investors,” he said in a post on his official X (formerly Twitter) page today.

Rafizi said the rakyat’s funds managed by the Employees’ Provident Fund, the Retirement Fund (Incorporated), Permodalan Nasional Bhd, Khazanah Nasional Bhd, Tabung Haji, and the Armed Forces Fund Board are among the largest shareholders of companies on Bursa Malaysia.

“When the stock market rose consistently over the last year and gave an increase of 14.45 per cent in annual returns, this will translate into greater gains for the rakyat in the future, should this marathon continue.

“The responsibility of revitalising the national economy requires a long-term perspective. However, the increase that happened (without us realising it) like today confirms that our economy will continue to strengthen,” he added.

— Bernama

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