KUALA LUMPUR, Jan 10 (Bernama) -- Maybank Investment Bank (IB) today urged investors to adopt a "defensive" trading strategy for the local equity market in the first half of 2015, with overweight in power, construction, telecommunications, ports and glove sectors.
Head of Retail Equities (Malaysia) Lim Chee Kiong said weaker consumer sentiment, falling crude oil prices and the on-going fiscal tightening measures would be key economic deflators for Malaysia this year.
"With global foreign-exchange, bonds and equity markets are expected to remain volatile through the first half, we advocate a defensive portfolio and overweight positions in power, construction, telecommunications, ports and glove sectors," he said.
Lim made the call at Maybank IB one-day seminar on "The Market Outlook For First Half 2015" here Saturday.
The bank's research team recommended stocks like Gamuda, Axiata, CMS and Hartalega, as their 'growth pick' for the first half of the year with a target price of RM6.00, RM7.80, RM4.80 and RM8.50, respectively.....