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2019 BUDGET POISED TO LIFT SENTIMENT IN STOCK MARKET - MAYBANK IB

09/08/2018 04:10 PM

KUALA LUMPUR, Aug 9 (Bernama) –  Maybank Investment Bank (IB) Research expects the tabling of the 2019 Budget to lift market sentiment on Bursa Malaysia as investors get more clarity on policies and reassurance on the government’s fiscal target.

In a statement, the research house said the stock market was expected to trade range-bound for the rest of the year, with its year-end target at 1,750 points for the FTSE Bursa Malaysia KLCI (FBM KLCI), pegging it at a valuation of 15.6 times forward earnings.

“For the second half of this year (H2 2018), Maybank IB advocates a trading strategy, with bottom-up stock picking approach as part of a long-term investment strategy,” it said.

While volatility was expected to persist in the market, Malaysia’s economic prospects remained strong, and the dampened market sentiment provided an attractive entry point for high-yielding dividend stocks, it added.

Meanwhile, the research house is organising its H2 2018 Market Outlook Roadshow from Aug 4 to Sept 1, which will cover a total of 10 cities nationwide.

-- BERNAMA


 

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