Strategy Note /
Malaysia

MY : Strategy - It’s a wrap for July; what’s next?

    Ivy Ng Lee
    Ivy Ng Lee

    Head of Malaysia Research, Regional Head of Agribusiness

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    CGS-CIMB
    2 August 2022
    Published byCGS-CIMB

    n The KLCI gained 3.3% mom in Jul 2022, partially reversing its 8% mom loss in Jun 2022. n The gain was driven by foreign buying and expectation that concerns over a US recession may have been priced in. n Foreign investors turned monthly net buyers in Jul; they were buying the financial services and healthcare sectors. n The best/worst performing sectors in Jul were the technology/energy sectors. n KLCI had in the past 10/44 years posted negative performance in Aug of -0.3%/-1.7% mom average returns. n Key events to watch out for in Aug 2022: OPEC meeting on 3 Aug; Malaysia’s 2Q22 GDP on 12 Aug; 2Q22 earnings season in Aug; and Malaysia’s Jul CPI on 26 Aug.