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GE, recovering ringgit expected to continue to drive local bourse


On stock picks for Malaysia, Teng preferred banks such as Malayan Banking Bhd and CIMB Group Holdings Bhd, and Sime Darby Bhd. “We have a huge position on Sime Darby and we think the valuations are still cheap here while the street’s forecast price projections are even much higher.

On stock picks for Malaysia, Teng preferred banks such as Malayan Banking Bhd and CIMB Group Holdings Bhd, and Sime Darby Bhd. “We have a huge position on Sime Darby and we think the valuations are still cheap here while the street’s forecast price projections are even much higher.

KUALA LUMPUR: The local bourse’s underlying momentum is strong with factors such as the upcoming general election and strengthening ringgit aiding the bullish trend, said Affin Hwang Capital managing director Teng Chee Wai.

He pointed out that the strengthening ringgit has helped funds flow back into the stock market while positive trading sentiment in US equity markets such as the Dow Jones Industrial Average (DJIA) has also helped.

   

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