FOREIGN institutional investors and fund managers are expected to stir “more excitement” in the local stock market in August, after the summer holiday ends, says a securities industry official.
TA Asset Management Sdn Bhd general manager Mohd Hasnul Ismar said the market's current price/earnings ratio of about 14 times was expected to return to its late March level of between 17 and 18 times in the next three months, after prevailing negative sentiments subside and foreign investment return after the holidays.
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