ASSET management firm ING Financial Markets has upgraded its outlook for Malaysia’s equity market and boosted its holding of Malaysian stocks to 9% of its total Asian (except Japan) portfolio from 5% previously.
ING said it had raised its weighting on the local market from underweight to overweight because of the strong domestic focus of the economy and the expected strengthening of Malaysia's exports as the US dollar, to which the ringgit is pegged, continued to weaken.
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