Sector weightings have been a key driver of the performance difference between mid- and large-cap Malaysian stocks in 2020, according to new insight from global index provider FTSE Russell and Bursa Malaysia.
Malaysian equities, similar to global equities, were roiled by the onset of the global pandemic in the first part of the year, with the large-cap FTSE Bursa Malaysia KLCI Index down 24.5% and the mid-cap FTSE Bursa Malaysia Mid 70 Index (FBM70) down 35.5% for the year through March 19th. While both indexes have rode the subsequent rally up since March 19, mid-caps have climbed much higher, with a 67.1% gain for FMB70 compared to a 33.8% gain for KCLI for the same period.
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