Better corporate earnings reports to boost Bursa

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Better corporate earnings reports to boost Bursa
Nederland Laatste Nieuws,Nederland Headlines

Bursa Malaysia is expected to perform better in the second half of this year, driven by better corporate earnings reports anticipated during that period.

Tradeview Capital’s chief investment officer Nixon Wong expects the ongoing first quarter earnings season to be rather muted owing to the delayed recovery impact from China’s reopening towards the domestic market.

He said the call for the Employees Provident Fund to raise its domestic asset allocation to 70% by year-end from 63% shall further drive the market. “For Malaysia, the overnight policy rate is expected to hold at 3% throughout the year, as it somewhat normalised to the pre pandemic levels,” Lau noted.“Overall 1Q23 results so far are not too bad, but there are some disappointments,” Lau commented on companies that have released their 1Q results to date.

He attributed this to the downtrend on the technology sector since 2H21, but opined the down trend is coming to a close.

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Nederland Laatste Nieuws, Nederland Headlines