Malaysia's equity market is still a preferred destination for global fund mangers and investors as it is presumed to be a safe haven for their investments, says CIMB-Principal Asset Regional Chief Investment Officer Raymond Tang.
He said there was still a continued inflow of funds into the local bourse as Malaysia was the least volatile among its regional peers.
"If you look at the Malaysian equity market for investments, it is the least volatile, so it will be a pretty strong anchor for any portfolio," he told a press conference, Tuesday.
On the FTSE Bursa Malaysia KLCI (FBM KLCI) index, Tang said the market barometer would continue to hover around the 1,700 points level until year-end.
"The market is still at about this level as most of the selling activity was done in the last two or three weeks," he said.
Meanwhile, on the Asia market, Tang said amid lingering uncertainty about the timing and scale of the US Federal Reserve's tapering asset purchases, the highly accommodative monetary conditions in Asia remained supportive of consumer spending and investment.
He said global wealth has been tilted in favour of Asia, buoyed by sustained optimism of the region's growth prospects, decent valuation and attractive yield differentials.
Tang said Asian economies were able to sustain their momentum via domestic demand and government spending.
"As these emerging markets become more productive and wealthy and, as personal incomes grow, massive growth is expected in the number of consumers and their purchasing power.
"Increasing government spending and supportive government policies will also continue to encourage consumption in the region.
"While rising inflation can be a risk in Asia, we believe the Asian inflation rates will be contained as the weak demand for commodities will continue to push prices down," Tang added.
Meanwhile, Chief Executive Officer Munirah Khairuddin encouraged investors to expand their focus and diversify investment palette in the Asian region.
"Anchored by our beliefs that Asia is rich in investment opportunities and investors are shifting their focus to the region, we expect the asset under management for our Asian funds to grow by more than RM300 million in the next three months on strong demand for both individual and institutional investors," she added.
At the same event, CIMB-Principal was presented the AsianInvestor's Investment Performance Award 2013 for Asian Fund House of the Year by Hong-Kong based AsianInvestor magazine.
The award was granted to the best overall fund house headquartered in Asia Pacific, recognised for a combination of business strategy, execution, investment performance, asset gathering, innovation and success.
Bernama
Tue Jul 02 2013
Who is Prabowo Subianto, incoming president of Indonesia?
A wealthy ex-general with ties to Indonesia's popular outgoing president and its dictatorial past, looks set to be its next leader.
Iran's supreme leader says Hamas leader's death will not halt 'Axis of Resistance'
The "Axis of Resistance", built up with years of Iranian support, includes Hamas, the Lebanese Hezbollah group, the Houthi movement in Yemen, and various Shi'ite groups in Iraq and Syria.
Putin says Russia willing to seek compromises between Iran and Israel
Russia is ready to help seek compromises between arch-foes Israel and Iran, President Vladimir Putin said on Friday, saying these would be difficult but possible.
What proposals will Russia push at the BRICS summit?
The proposal is also to establish a BRICS reinsurance company to allow uninterrupted shipment of goods and key commodities between members.
Indonesia's free meals plan in the spotlight as Prabowo readies for office
Prabowo calls the programme one of the main drivers of economic growth, eventually set to add an estimated 2.5 million jobs.
Astro AWANI's revamped English news website, AWANI International, launches on Oct 21
Astro AWANI's revamped English platform delivers in-depth global news and expert analysis to keep you informed on key developments.
Israeli strikes kill 33 people in Jabalia refugee camp in Gaza, medics say
Residents of Jabalia said Israeli tanks had reached the heart of the camp after pushing through suburbs and residential districts.
Liam Payne's ex-partner calls for media restraint after 'painful' death
Cheryl Tweedy used her statement to urge the media to remember they had a seven-year-old son, Bear, who could read the reports.
Analysts: Indonesia's strong MoF leadership team to boost investor confidence
Sri Mulyani Indrawati as head of Indonesia's Ministry of Finance is expected to instil confidence among investors.
Biden offers both a carrot and a stick to Israel as his term nears an end
Israel has frequently resisted US advice and has caused political difficulties for the Biden administration.
Putin says BRICS will generate most of global economic growth
Russian President Vladimir Putin will host a summit of the group in the city of Kazan on Oct. 22-24.
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.