Rakuten sees mild year-end window dressing, FBM KLCI target at 1,630 points

PETALING JAYA: The FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to trade at 1,630 level by year-end driven by banking and plantation stocks as minor window dressing activities take place by fund mangers, said Rakuten Trade Sdn Bhd head of research Kenny Yee.

“We expect some sort of window dressing to occur over the next one-and-a-half months. We foresee the index improving to 1,750 points in 2020 based on a 16-times market price-to-earnings ratio,” he said during a media briefing.