MALAYSIA: A total of 833 counters, or 79.4% of the 1,049 counters listed on the Malaysian securities market, were Shariah compliant as of the end of June this year, reported The Edge Malaysia quoting Bursa Malaysia CEO Muhamad Umar Swift. The market capitalization of Shariah compliant securities grew by 19.7% year-on-year to RM1.3 trillion (US$292.98 billion), making up 65.2% of the total market value. The average daily trading value (ADV) of Shariah compliant securities climbed by 50.9% year-on-year to RM2.1 billion (US473.28 million), accounting for 65.3% of the total ADV.
Bursa Malaysia also advised investors to prioritize productive assets over speculative ones amid limited availability of Shariah compliant hedging instruments, reported The Edge Malaysia.
