Fundamentals for Malaysia equities still solid, KLCI to hit 1,830: Maybank
DESPITE a second round of movement control order (MCO) restrictions across most of Malaysia in a bid to curb the increase in coronavirus cases - the so-called MCO 2.0 - Maybank Kim Eng analysts say the underlying fundamentals for the country's equity market remain intact.
Maybank's regional head of equity research Anand Pathmakanthan said that although Malaysian equities have fallen increasingly out of favour with foreign investors, the market "can still move higher" as it is supported by domestic institutional and retail interest.
Maybank is predicting that government bond yields will trend upwards, reversing a downward trend over the past few years, which they said would make equities more attractive. A weaker US dollar is also favourable for emerging markets such as Malaysia.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Morgan Stanley strategists see inflation as key for path of US stocks
US: Wall Street opens higher as rate-cut hopes linger
Tyson raises outlook as lower costs boost chicken segment
US dollar soft on renewed Fed rate cut bets; yen on back foot
Possible class action lawsuit against Cordlife by customers could take at least 2 years
SAP extends CEO Klein’s contract until 2028