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.
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Mixed trading in Asia as investors watch for further macro data; STI down 0.2%