The research house said this was largely because the FBM KLCI has generally yielded positive returns in the three-month periods up to the past election polling dates, apart from robust headline economic indicators which support the ringgit and investment sentiment. The GE14 is widely expected to be held in March or April next year.
KUALA LUMPUR: Maybank Investment Bank (IB) Research expects the tabling of the 2019 Budget to lift market sentiment on Bursa Malaysia as investors get more clarity on policies and reassurance on the government’s fiscal target.
The research house said in a statement the stock market was expected to trade range-bound for the rest of the year, with its year-end target at 1,750 points for the FBM KLCI, pegging it at a valuation of 15.6 times forward earnings.
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