PETALING JAYA: Malaysia is the least favoured destination of foreign portfolio funds in Asia ex-Japan on a year-to-date basis, mainly due to expensive valuations and a defensive position at a time when most markets have been rallying.
With the S&P 500 closing at its record high of 1,848.36 last Friday, and having gained 6.2% on a year-to-date basis, such a buoyant investing outlook has fuelled portfolio funds to put their money in the higher beta markets.
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