“Moving forward, possibly in the third quarter, we expect the equity market to encounter another wave of selling pressure, i.e. second downward thrust (fallout phase) as the real extent of economic/corporate earnings impacts of Covid-19 become manifest," says MIDF Research.
KUALA LUMPUR: MIDF Research is cautious about Bursa Malaysia as the second downward thrust or fallout phase, may later emerge, possibly in the third quarter, as the fuller extent of economic and corporate earnings impact of Covid-19 become manifest.
It said on Friday the underlying (tacit) recommendation of its FBM KLCI 2020 target since the onset of Covid-19 pandemic in March has shifted from Buy, then Hold and now Sell.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
