The investment bank upgraded Malaysia to 'neutral' from 'underweight' last week, raising its target for the Kuala Lumpur Composite Index.
JPMorgan named data centers, electric vehicles and solar among the sectors that investors are putting their money in.
"It's a multi-theme story going on," Rajiv Batra, head of Asia-Pacific equity strategy at JPMorgan, told CNBC's "is the one which everyone is talking about. Penang has proven themselves as a tech hub overall," said Batra, adding that Malaysia offers "multiple sectors and ideas to play." The investment bank said Malaysia is progressing at a much stronger pace than expected and upgraded the country to "neutral" rating from "underweight" last week, raising its target for the Kuala Lumpur Composite Index.
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