Despite negative economic data / news, Malaysia’s FBMKLCI continues its climb, breaching its historical high price-to-earnings PE of 18x.
  

It was not the fundamentals that drove the increase in the index but for the inflow of foreign funds resulting from a delay in US rate hikes as well as negative yield global environment.

Deep inside, there are inherent problems associated with Malaysia. Slowing economy, rising unemployment, rising household debt & non-performing loans, etc. 
What happen next: wait for May, when most ListCos will report their Q1 results. Expect to see a deepening crisis in the making….

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