Malaysia's benchmark stock index may 'stampede' beyond 1,781 in the first half of the year, bolstered by an inflow of foreign funds and rising expectations of an early general election, according to UOB Kay Hian Group.
A stronger ringgit, higher commodity prices and a 'firm' economic outlook will also help boost the stock market, Vincent Khoo, an analyst at OUB Kay Hian said in a report today. Still, the market faces a 'wild ride' as the upside potential may be 'lassoed' in the second half of the year, bringing his target for the index to end at 1,654 by the end of the year, he said.
The FTSE Bursa Malaysia KLCI Index rose 0.4 per cent to 1,558.54 at 10:53 a.m., set for a record close. -- Bloomberg
No comments:
Post a Comment