After advancing for a solid one-and-a-half quarters, the question now is what is in store for the KLSE in the fourth quarter
During the run-up, investors had been mesmerised by a spectacular rally in the oil and gas stocks, nibbled away quietly at water stocks and also scrambled for counters listed on the Mesdaq market.
Star counters such as Scomi Group Bhd and Crest Petroleum Bhd are now on the lips of many retailers, who will undeniably be wondering whether the theme plays that marked the third quarter would return in the next quarter.
But will such bullishness be sustained during the last quarter of a year that has seen a war and a major health scare? Will oil prices still remain firm and what effect will a weaker US dollar have on the stockmarket?
Fund managers and analysts polled by StarBiz (Jagdev Singh Sidhu, Sidek Kamiso, Daljit Dhesi and Kathy Fong) generally felt the CI would go up.
Apart from acknowledging that better economies globally would help companies and boost sentiment, they also see rosy prospects for the market although there could be some short-term indigestion.
They also made their favourite stock picks, which are not limited to just the high-flyers.
During the run-up, investors had been mesmerised by a spectacular rally in the oil and gas stocks, nibbled away quietly at water stocks and also scrambled for counters listed on the Mesdaq market.
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