KUALA LUMPUR, May 31 — Despite heading for some market headwinds ahead of the two-week lockdown, the local equity market may witness positive buying momentum on technology and shipping counters with global links as well as personal protective equipment related counters.
MIDF Research said the economic impact will be on the pace of growth but expected its trajectory to remain upward. “We expect that CY2021 will see a recovery in the economy . Furthermore, we believe that the management of these headwinds will be better given the experience governments and regulators have on dealing with the pandemic, coupled to the expected acceleration of the vaccination programme,” it told Bernama.“We view these lockdown measures as temporary setbacks with limited impacts that are necessary in order to quell the spread and restore some progress in Covid-19 management.
This, it said, is also premised on the likely allowance of five significant sectors to operate normally albeit with more stringent standard operating procedures being observed. Prime Minister Tan Sri Muhyiddin Yassin announced last Friday that the nation will go back to a full lockdown for two weeks from June 1-14, whereby all economic and social sectors will shut down during the period except for the essential ones.
What pain when 17 sectors are allowed to open
But Malaysian stocks have stayed broadly flat for many years. 😅
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