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俄罗斯币安认证账号(accbuy.vip):Upbeat outlook on Bursa Malaysia

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,Bursa Malaysia performance set to improve in the fourth quarter

PETALING JAYA: The positive outlook for Bursa Malaysia appears to be achievable as investor confidence is expected to return with the gradual reopening of the country’s economy.

Analysts generally opined that while the local bourse remains a laggard for now, it is worth a relook as the stock market performance is set to improve in the final three months of 2021.

This confidence is also backed by expectations that corporate earnings will continue to strengthen in the coming quarters.

Furthermore, the continued inflow of foreign funds into the local equity market would support its recovery, according to Rakuten Trade head of research Kenny Yee.(pic below)

“Foreign funds are heading to the Asian markets following the volatility on Wall Street and the expectation of a higher interest rate in the United States.

“Malaysia could be one of the potential markets and sectors such as banking and utilities would benefit from the foreign fund inflow as the investors would typically go for the blue chips,” he told StarBiz yesterday.

For the past seven weeks, foreign investors have been net buyers although the net fund inflow has been shrinking for four consecutive weeks.

Yee also said that the country’s recovery would be boosted if the government “diligently” implements the 12th Malaysia Plan (12MP).

“A good delivery of promises as well as a good Budget 2022 would fuel market sentiment,” he said, adding that the construction sector would benefit from the higher development expenditure allocated under the 12MP.

By end-2021, Yee is positive that the FBM KLCI could touch 1,650 points, up from 1,537.80 points yesterday.

Meanwhile, Kenanga Research expects the benchmark FBM KLCI to end at 1,611 points this year.

Year-to-date, the index – which is composed of the 30 largest stocks by market capitalisation – has dropped by about 5.5%.

In a report, Kenanga Research head of research Koh Huat Soon noted that the reopening theme was catching on again as Covid-19 infections in Malaysia continue to decline while vaccination rates continue to go up.

“After several false starts over the past 18 months, the falling rate of infections that is finally taking root has led us to revisit the economic reopening theme.

“With the vaccination programme rapidly deployed since April, Malaysia may finally reach the 90% fully vaccinated rate among the adult population by the end of October,” he said.

The brokerage is “overweight” on building materials, gaming, media, non-bank financial institutions, oil and gas, real estate investment trusts (REITs), rubber gloves, technology and utilities.

Koh said that while Kenanga Research had lowered its earnings per share (EPS) forecasts for 2021 and 2022, the earnings growth momentum remained positive.

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