MIDF
PETALING JAYA: Despite the uncertainties, the local stock market is expected to move in an upward direction this year, backed by a less aggressive US Federal Reserve (Fed), mild local corporate earnings growth and supportive domestic economic policies, says MIDF Research.
The brokerage reiterated its view that the benchmark FBM KLCI would reach 1,800 points by the end of 2019. This would price the Malaysian equity market at a 2019 price-earnings ratio of 17.4 times, representing a premium to its multi-year mean of 16.8 times.
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