KUALA LUMPUR: Strategists caution that overall market valuations are “stretched” at the moment, as the Malaysian stock market headed into uncharted territory in the aftermath of the 13th general election (GE13) results on Monday.
“Don’t simply chase stocks, especially after the 1,800-point mark, as we think there may be a consolidation. Our market average has always been about 14-15 times earnings and we are now trading slightly above the average,” said AmInvest’s director for retail funds and retirement funds Ng Chze How.