UOB Kay Hian Research sees stock market consolidating in 3Q

Duopharma Biotech products on display. The company is among the mid-cap stocks favoured by UOB Kay Hian Malaysia Research.

KUALA LUMPUR: UOB Kay Hian Malaysia Research expects the stock market to move into a consolidation mode following a spectacular recovery into a bull territory from a global Covid-19 outbreak-induced bear market.

“We expect sentiment in 3Q20 to be affected by a poor economic recovery and consumption, sharply reduced retail investor participation, and internal political bickering, ” it said in its strategy outlook on Friday.