Expect stock market to remain lethargic, says analyst

PETALING JAYA: The stock market is expected to be somewhat dull over the next few months, according to the head of research at Inter Pacific Securities Sdn Bhd, Pong Teng Siew.He told FMT that he expected the market to reach a cap of 1,730 points by the middle of the year.

Meanwhile, Redza Abdul Rahman, head of research at MIDF told FMT that a recent article by Bloomberg that said that Malaysia was the only market in Asia to register a decline year to date could be wrongly interpreted. “Bursa Malaysia fell 6.3% from Jan 1, 2018 to date while Shenzen fell by 8.1%, Stock Exchange of Thailand declined 8.6%, Nikkei dropped by 8.6% while Phillipines Commposite Index fell by 11.1% during the same period,” said Redza.

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