Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said at the global market level, foreign investors would likely remain guarded in view of the economic uncertainties, largely impacted by the Coronavirus outbreak."The concern on rising new cases for Covid-19 outside China appears to take centre stage. This is especially true in the case of South Korea where the number of new cases has shot up to 52 as of Feb 20, which brought its cummulative cases to 156.
Meanwhile, on Feb 27, the government will announce the stimulus package to stimulate Malaysia’s economy and mitigate any adverse repercussions from the outbreak and other external uncertainties.On a Friday-to-Friday basis, the FBM KLCI erased 13.26 points to 1,531.2 from 1,544.46 previously. Sector-wise, the Financial Services Index rose 122.96 points to 14,695.92, but the Plantation Index erased 200.46 points to 7,134.65 and the Industrial Products and Services Index slipped 0.92 point to 145.79.
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