THE stock market is expected to open higher next week following Bank Negara's announcement of a stronger economic growth forecast of 6% to 6.5% for 2004 and that there will be no changes to interest rates, fund managers and economists said.
The central bank revised upwards its gross domestic product growth projection from a previous 5.5% to 6% forecast on expectations of stronger domestic demand on rising private sector participation and higher exports due to an improvement in the global economy. Last year, the economy expanded by 5.2%.