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PETALING JAYA: Equity valuations are expected to remain relatively depressed due to rising macro risks emanating from recent global trade developments, analysts say. MIDF Research said with the cut-off date for the upcoming semi-annual review of the FTSE Bursa Malaysia KLCI’s components about five weeks away, it thinks that the current top 30 blue-chip will remain unchanged, based on the list of constituents after last Friday’s market close. “This will likely be the first semi-annual review without changes in three years,” the research house said in a report yesterday.
MIDF Research said Gamuda Bhd and 99 Speed Mart Retail Holdings Bhd, which were elevated into the FBM KLCI during the December 2024 review, maintained their positions well within the index, with Gamuda in 20th position and 99 Speed Mart in 26th. “No other stocks have risen or fallen to the threshold stated in the ground rules for additions or deletions to the index at the moment,” the research house said. MIDF Research added that the closest non-constituent to the 25th position is AMMB Holdings Bhd at 28th, with a market capitalisation gap of minus 3.
2% compared with QL Resources Bhd in 25th. “While improbable, the addition of AMMB Holdings into the barometer index would mean the relegation of MR DIY Group (M) Bhd , currently the lowest ranked constituent in 33rd. “For background, a security will only be inserted at a periodic review if it rises to 25th or above while a deletion will happen if a security falls to 36th or below.
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