KUALA LUMPUR, Sept 24 – Malaysia’s equity market and Initial Public Offerings (IPO) have seen remarkable growth in 2024, reaching levels not seen in years, according to Securities Commission chairman Datuk Mohammad Faiz Azmi.

He attributed this progress to favourable domestic economic conditions, corporate earnings recovery, and supportive government policies.

"As we enter the fourth quarter of 2024, I’d like to highlight the positive momentum in the Malaysian equity market, which has reached new highs not seen in the last four years,” he said during the launch of the National Sustainability Reporting Framework today.

"The IPO market has also experienced exceptional growth, with 34 companies going public as of September. Notably, 29 of these 34 IPOs are trading higher than their original listing prices, showing strong confidence in new public listings,” he added.

Datuk Mohammad Faiz also noted a surge in trading activity and the return of foreign investors to the Malaysian market.

He expressed optimism that the local market recovery would continue, especially following the recent rate cuts by the United States Federal Reserve, which lowered rates to a range of 4.75 to 5 per cent, marking the first reduction since March 2020.