Mid-cap stocks the best performers in 1H2023, with YTL Corp in the leadAs largely expected, the Malaysian stock market had a rather dismal showing in the first half of this year, as prices of palm and crude oil — the two main commodities the country exports — normalise, while the global monetary tightening that played a part in triggering the banking crisis in the US and Europe continues to drive the exodus of foreign funds from the local market.
The weaker-than-expected economic rebound in China, Malaysia’s largest trading partner, following the much-anticipated reopening of her international borders also weighed on sentiment across Asia.